THE AUDIT COMMITTEE'S RESPONSIBILITYCHECKLISTS, CHECKLISTS, CHECKLISTSAN APPROACH TO AUDIT COMMITTEE OVERSIGHTTHE TONE AT THE TOPLOGISTICAL CAPABILITYIMMEDIATE DETECTION OF FINANCIAL MISREPORTINGA PROPERLY CONFIGURED AUDIT COMMITTEEINDEPENDENCEFINANCIAL SOPHISTICATIONWILLINGNESS TO WORKTHE BIGGEST CHALLENGE: INFORMATIONGETTING INFORMATION FROM SENIOR MANAGEMENTGETTING INFORMATION FROM THE OUTSIDE AUDITORGETTING INFORMATION FROM INTERNAL AUDITMORE ON THE TONE AT THE TOPMINIMIZE RELIANCE ON PAPERLEARN THE BUSINESSMEET WITH OTHERS AND ALONEMEET WHEN NECESSARYUSE GOOD JUDGMENT