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Author: Australian Institute of Company Directors Publisher: AICD ISBN: 9781876604042 Category : Business & Economics Languages : en Pages : 56
Book Description
"Role and responsibilities of Audit Subcommittees of Boards. Provides a practical introduction to the role of and responsibilities of the audit committee. Explains the context in which an audit committee typically operates and outlines good practice. Reflects developments in audit committee practice, legislation and gudance from regulatory bodiesand leading global board practices since 2001."--Provided by publisher.
Author: Australian Institute of Company Directors Publisher: AICD ISBN: 9781876604042 Category : Business & Economics Languages : en Pages : 56
Book Description
"Role and responsibilities of Audit Subcommittees of Boards. Provides a practical introduction to the role of and responsibilities of the audit committee. Explains the context in which an audit committee typically operates and outlines good practice. Reflects developments in audit committee practice, legislation and gudance from regulatory bodiesand leading global board practices since 2001."--Provided by publisher.
Author: Warren Ruppel Publisher: John Wiley & Sons ISBN: 0471770167 Category : Business & Economics Languages : en Pages : 178
Book Description
How can not-for-profit organizations be sure they play by the rules when the rules aren't clear? Due to recent, very public accounting scandals and the resulting Sarbanes-Oxley Act and other regulations, public companies have strict guidance on financial governance and accounting, including the functions and responsibilities of audit committee members. Though not-for-profit organizations are subject to increased scrutiny, there has been no detailed guidance for their audit committees. This book fills the void and helps not-for-profit organizations answer these questions: * In today's skeptical environment, how can responsible financial governance and reporting reassure wary donors and supporters, and perhaps give the organization a competitive advantage? * How should the audit committee be structured? * Which Sarbanes-Oxley requirements (if any) should the audit committee adopt? * Which best practices best fit the organization's structure and financial reporting needs? Complete with checklists, sample questions, and an index for quick reference, Not-for-Profit Audit Committee Best Practices covers: * Different types and unique characteristics of not-for-profit organizations * The audit committee's role in preventing and detecting fraud * Important internal controls and the internal audit function * The relationship of the audit committee and the independent auditor This heads-up, hands-on guide helps audit committee members select and structure appropriate best practices and function in the most effective manner for their unique not-for-profit organizations. It's also a valuable reference for board members, managers, independent auditors, and advisors of not-for-profit organizations.
Author: Curtis C. Verschoor Publisher: John Wiley & Sons ISBN: 0470337079 Category : Business & Economics Languages : en Pages : 258
Book Description
Praise for Audit Committee Essentials "Audit Committee Essentials is an excellent and comprehensive resource, documented with key references and illustrated with real-life company examples for all types of commercial and nonprofit enterprises. Dr. Verschoor brings into focus the intertwined impact of risk management, internal controls, and ethics on oversight responsibilities for both the audit committee and the entire board of directors. From my personal perspective as an audit committee member and as a director of both profit and nonprofit entities, this book should be required reading for corporate management, boards of directors, and their committees." --George K. Gill, Chairman and CEO of PetAg, Inc.; Director and member of the Investment and Audit Committees of the United Methodist Foundation of Northern Illinois "Maintaining the highest ethical standards is critical to the success of not-for-profits in today's world. Dr. Verschoor's book provides a practical, highly prescriptive approach to ensuring that governance processes meet the highest expectations of managers, employees, volunteers, contributors, and other stakeholders. I am very impressed with the readability of the book. It definitely raises one's awareness of the need for a thought-out plan that ensures strong financial and ethical credibility." --John S. Maxson, President and CEO Greater North Michigan Avenue Association, Chicago, Illinois A concise and readable account of the audit committee's roles and responsibilities The Sarbanes-Oxley Act has changed the way all corporations now operate, regardless of size. In Audit Committee Essentials, goverance expert Curtis Verschoor explains with great detail and razor-sharp precision why internal control is so critical, emphasizing financial literacy, a requirement under Sarbanes-Oxley, as well as oversight of the financial reporting process and related controls, ethics and the internal and independent audits. Written for seasoned professionals as well as newly assigned board members, Audit Committee Essentials is a vital tool in order to stay abreast of the rapidly changing governance requirements and responsibilities of audit committees.
Author: Louis Braiotta, Jr. Publisher: John Wiley & Sons ISBN: 0470616075 Category : Business & Economics Languages : en Pages : 415
Book Description
The Audit Committee Handbook, Fifth Edition The Audit Committee Handbook, Fifth Edition guides you to: Understand the role and responsibilities of the audit committee with a general update and reality check on auditing cycle activities Identify the developments that impact audit committee practices and the most current techniques and strategies for committee meetings Develop a repertoire of effective strategies to help the board of directors discharge its fiduciary responsibility to shareholders Prepare a periodic assessment of professional development activities and an informed review of both audit processes and financial reporting processes A must-have for all audit committee members, board directors, corporate secretaries, CEOs, CFOs, and auditors involved in the accounting practices of their firms, The Audit Committee Handbook, Fifth Edition is the most authoritative work on audit committees in the marketplace.
Author: Zabihollah Rezaee Publisher: Business Expert Press ISBN: 1631571559 Category : Business & Economics Languages : en Pages : 190
Book Description
The audit committee has gained considerable attention in the aftermath of 2007-2009 global financial crisis. The audit committee’s role has evolved from a voluntary liaison between management and external auditors to the standing committee of the board of directors in overseeing all aspects of corporate governance, financial reporting, internal controls, risk assessment, and audit activities. This book addresses the determinants of audit committee oversight effectiveness, including their composition, independence, authority, resources, diligence, and activities. The book is organized into three separate volumes and each volume can be utilized separately or in an integrated form. The first volume consists of five chapters, which examine the relevance and fundamentals of the audit committees as well as the determinants of audit committee effectiveness. The second volume consists of nine chapters on financial, auditing, internal control, risk management, ethics and compliance, antifraud, and other oversight functions of the audit committee. The third volume consists of five chapters on the emerging issues of audit committees pertaining to evaluation, education, reporting, and accountability as well as audit committees of private companies, governmental entities and not-for-profit organizations.
Author: Gerald S. Backman Publisher: Wolters Kluwer Law and Business ISBN: 9780735546011 Category : Business & Economics Languages : en Pages : 650
Book Description
To help companies comply with the new recently enacted requirements, theauthors have compiled this edition as a working volume on audit committeesfor everyday use by corporate audit committee members, directors,general counsel, outside counsel and legal scholars specializing in this areaof corporate governance, among others.This thoroughly new edition includes all the materials one might need toconsult in order to create, maintain, advise and/or serve on awell-functioning audit committee, including:the relevant provisions of the Sarbanes-Oxley Actthe newly adopted SEC rules and regulations impacting audit committeeindependence, duties, powers and disclosuresthe revised listing standards of the New York Stock Exchange, NASDAQ and theAmerican Stock Exchange relating to audit committee composition,responsibilities and functions.It also contains an illustrative selection of "best practices" foraudit committee chairs and members.For the convenience of the reader, the authors have included an index that isdesigned to identify the location of information by subject matter that maynot be readily apparent from the Table of Contents.
Author: Niamh M. Brennan Publisher: ISBN: Category : Languages : en Pages : 30
Book Description
Purpose - This paper reviews and critiques prior research on audit committees using a practice-theory lens. Research on audit committees has followed the same trajectory as early research on boards of directors, which has been criticised for its singular theoretical perspectives and methodologies that do not capture the complexity of real-world experiences/behaviours. Design/methodology/approach - We devise an analytical framework based on practice theory to conduct our review. We examine what audit committees should do (i.e., best practice) versus what audit committees actually do (i.e., actual activities in practice - praxis). Attributes of audit committee members, and the relationship dynamics relevant to their role execution (i.e., practitioners), are considered. Findings - Research on boards has found that over-emphasis on agency theory's monitoring role negatively impacts board effectiveness. We invoke other theories in examining what audit committees do in practice. We characterise the role of audit committees as oversight and not monitoring. We question whether, similar to auditing, audit committees are blamist tools or are genuinely orientated towards supporting improvements in organisational management systems. We unpack the ritualistic ceremonial behaviours and symbolic endeavours versus substantive engagement by audit committees. Our analytical framework also considers the “guardianship circle” around audit committees in the form of the key practitioners and their relationships: audit committee members, auditors and senior managers. Originality/value - Drawing on our analytical framework, we provide directions for further opportunities for research of audit committees.
Author: AICPA Publisher: John Wiley & Sons ISBN: 1940235464 Category : Business & Economics Languages : en Pages : 192
Book Description
The AICPA Audit Committee Toolkit: Private Companies helps audit committees of private companies at all levels discover best practices for managing and incorporating their role within the organization. This toolkit takes the guesswork out of effectively establishing and managing an audit committee by furnishing you with dozens of useful tools and the most common forms for effective audit committee operation, as well as tools specially tailored for private companies. The accompanying download features forms and checklists that you can fill out and save to efficiently create, file, and track your documentation. This new second edition has been updated to include the 2013 revised COSO framework. The checklists and worksheets have been revised to make them more user-friendly. The publication has been updated with relevant regulatory changes. Additionally IFRS guidance has been added. The AICPA Audit Committee Toolkit series is the cornerstone of the Audit Committee Effectiveness Center, located at www.aicpa.org/AudCommCtr. This newly revised edition of the popular audit committee toolkit is written to help audit committees of private companies to achieve best practices for managing and incorporating their role in the organization. New to this edition of the toolkit Updated with new COSO Framework (May 2013) Improved format for forms and checklists Updated with regulatory changes Includes IFRS guidance Now with downloadable Microsoft Word tools and checklists, this Toolkit offers a broad sampling of matrices, reports, questionnaires and other pertinent materials specifically tailored to private companies and designed to make audit committee best practices actionable.
Author: Australian Institute of Company Directors
Author: Australian Institute of Company Directors
Author: Arthur Andersen (Firm)
Author: Warren Ruppel
Author: Curtis C. Verschoor
Author: Louis Braiotta, Jr.
Author: Richard Steinberg
Author: Zabihollah Rezaee
Author: Gerald S. Backman
Author: Niamh M. Brennan
Author: AICPA