An overwhelming majority of American investors are confident in the integrity of the U.S. capital markets, including audited financial reports and independent auditors, according to a new survey by the Center for Audit Quality.
The CAQ’s 10th annual Main Street Investor Survey found 81 of the 1,004 investors polled expressed confidence in independent public company auditors, while 75 percent were confident in audited financial statements, 77 percent in independent audit committees and 75 percent in financial advisors.
Seventy-nine percent of American investors said they are confident in U.S. capital markets, while 81 percent indicated they have confidence investing in U.S. publicly traded companies,
“We were very pleased to see that auditors again were ranked highest by investors of the list of entities that are effectively looking out for their interest,” said CAQ executive director Cindy Fornelli during a conference call with reporters Thursday. “The takeaway for me is that investors believe in the process and see the valuable work that the men and women of the public company auditing profession provide to the public markets every day.”
The investors surveyed also expressed a high degree of confidence in audited financial statements. “We’re nearing the levels that we had in 2007,” said Fornelli. “That too shows that investors believe in the system. They believe that companies and boards of directors and auditors are all doing their job and pulling together to provide good investment opportunities to the individuals who make up our economy. The vast majority of investors are saving for their retirement, for home ownership, for college education for their children, for eldercare. These are all important things, and we’re not going to have a vibrant market unless investors have confidence.”
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