Investors trust auditors, but confidence in U.S. markets drops
 

Investors trust auditors, but confidence in U.S. markets drops

Public company auditors remain the group investors trust most to protect their interests, but investors’ confidence in U.S. capital markets and U.S. public companies has dropped in the past year, according to a Center for Audit Quality (CAQ) survey report released Tuesday.

Respondents to the Main Street Investor survey kept independent auditors of publicly traded companies in the top spot among entities they trust most to look out for investors. More than four in five (81%) respondents said they have some, quite a bit, or a great deal of trust in public company auditors. That’s a dip of three percentage points from 2017, and it narrowly edges out independent audit committees of public companies (80%) for the top spot among the most-trusted entities.

“The public company auditing profession works hard each day to build investor confidence, and we are pleased to see that a strong majority of investors view independent auditors as effective parts of the system of investor protection,” CAQ Executive Director Cindy Fornelli said in a news release.. Read more on the Journal of Accountancy.