Originally published by Cindy Fornelli on LinkedIn: Got Values? Celebrate Them!
Many companies have guiding values, as do entire industries and professions. If you live and work by such values, my view is that you can do it quietly—but you don't have to. In fact, I think there's much to be said for celebrating your values openly and proudly. That's what my organization, the Center for Audit Quality (CAQ), is doing throughout 2017.
The Values of Public Company Auditing
The CAQ is a public policy organization, the members of which are public company auditing firms. This year marks our 10th year in operation.
As our organization has turned 10, we've given thought to the key values and ideas that have served as guiding stars, not only for the CAQ during its 10-year existence, but also for the broader public company auditing profession. Here’s a look at some of the values we will be celebrating throughout 2017:
-
Collaboration: As a key part of our market system, the public company auditing profession works with other groups in that system. Witness our collaborative work in the fight against financial reporting fraud, or to highlight and enhance the role of audit committees.
-
Connection: In a global economy, the public company auditing profession strives to connect with others worldwide, taking part in the global conversation around audit quality and effective corporate governance.
-
Advocacy: The public company auditing profession engages robustly in the public policy arena, providing input to policymakers as they consider matters that affect investors and the markets.
-
Evolution: In markets that never stand still, public company auditors embrace change. That's why we've been active and engaged in the discussion around enhancing the auditor's report, and audit quality indicators.
-
Innovation: While staying mindful of its past and its fundamentals, the public company auditing profession seeks new ways to improve for the benefit of capital markets. The profession's innovative work on data analytics and cybersecurity are just two examples.
-
Independence, Objectivity, and Skepticism: These three core values have been essential to the profession throughout its history and are embedded in its framework of professional standards.
-
Transparency: The public company auditing profession recognizes that transparency and disclosure are vital to healthy capital markets and investor protection, which is why we've continued to engage constructively on transparency related to the execution and oversight of the audit.