The AICPA has launched an initiative they are calling Enhancing Audit Quality, or EAQ. This will be a coordinated effort to improve the overall quality of audits.
Why the initiative?
There are some serious quality issues. More on that momentarily.
This will be the first in a long series of articles on the EAQ initiative. I think this will be a big deal over the next few years and we probably ought to start paying attention.
Today I listened to a one-hour webcast. You can find the link here, and since it was not for credit, I’m guessing you may soon be able to watch it on your own.
Why is there a perceived quality issue?