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ARTICLE · 03 MAY 2017

CAQ Issues Updated Auditor Evaluation Tool

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The tool also includes a sample form and rating scale for obtaining input from company personnel about the external auditor.

United StatesAccounting and Audit
Thomas W. White
Thomas W. White
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The Center for Audit Quality has issued an updated version of its "External Auditor Assessment Tool." First issued in 2012, this publication has provided a framework for audit committees to assess their companies' external auditors as part of their responsibilities for appointing, overseeing and determining compensation for the external auditor. ( See our blog post from October 23, 2012.) Like its predecessor, the updated tool provides general guidance regarding the process for performing an annual assessment and contains sample questions in three specific areas:

  • Quality of services and sufficiency of resources provided by the auditor;
  • Quality of communication and interaction with the auditor; and

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