CAQ Executive Director Comments on Reappointment of Ferguson to Second Term on PCAOB

July 6, 2015

Washington, DC – Center for Audit Quality (CAQ) Executive Director Cindy Fornelli issued the following statement on the SEC's reappointment of Public Company Accounting Oversight Board (PCAOB) Member Lewis H. Ferguson to a second term on the Board:

"Lew has a sharp legal mind and a deep understanding of the issues that impact audit quality. During his tenure, he has served as a tireless advocate for investors by working to protect their interests and further the public interest in the preparation of informative, accurate, and independent audit reports.

"The PCAOB, the profession, and investors also benefit from Lew's extensive global experience and leadership. As the past chairman of the International Forum of Independent Audit Regulators (IFIAR) and the recently appointed chair of the Global Public Policy Committee Working Group of IFIAR, Lew brings a unique and valuable international perspective to the PCAOB's work.

"The CAQ looks forward to continuing to engage with Lew and the full Board to enhance audit quality and investor confidence in capital markets."