Evaluate the Audit Committee
AUDIT COMMITTEES are facing increased scrutiny from shareholders and regulators for the manner in which they fulfill their duties, which stems from the public perception that they were somehow misled by the financial information presented prior to the deep economic recession that started in 2008. A well-designed audit committee evaluation can stave off critics and serve as a valuable tool for the full board of directors to help assess the success of one of their key standing committees. This chapter addresses the why, who, when, what, and how of conducting sound audit committee evaluations.
Why Should Evaluations Be Considered?
Regulatory requirements do not mandate that organizations undertake performance ...