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CAQ calls for a robust conversation on non-GAAP financial measures

The Center for Audit Quality (CAQ) said that non-GAAP financial measures can provide useful insights about a company and called on a robust dialogue across the financial reporting supply chain to increase the usefulness of those insights to final users.

The CAQ’s call for discussion was issued in a new publication, Non-GAAP financial Measures: Continuing the Conversation, which explores the issue of non-GAAP information, providing context on its definition and use, pertinent regulatory developments, and the current level of auditor involvement. It includes questions for stakeholder groups to consider.

CAQ executive director Cindy Fornelli said: " The public company auditing profession is in a unique position to foster a dialogue about non-GAAP financial measures and what might be done to enhance public confidence in them, With its focus on the perspectives of various constituencies throughout financial reporting, this new resource can help stimulate that dialogue."

The report is accessible on the CAQ’s website

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