The Center for Audit Quality and several corporate governance organizations and companies have created a new online auditor evaluation tool to help the audit committees on corporate boards evaluate their auditing firms.

The new tool comes in the form of a PDF file containing a questionnaire. It is intended to assist audit committees in performing an annual evaluation of the external auditor in order to make an informed recommendation to the board whether to retain the auditor. The tool contains sample questions to gauge the quality of services and the sufficiency of resources provided by the auditor, communication and interaction with the auditor, and the auditor’s independence, objectivity and professional skepticism. It also provides a sample form for obtaining input from company personnel.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access