Download or read book Audit Committee Essentials written by Curtis C. Verschoor and published by John Wiley & Sons. This book was released on 2008-04-30 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Audit Committees written by Frank M. Burke and published by CCH. This book was released on 2008-08 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The External Auditor and the Audit Committee written by Jean Bédard and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The audit committee is an important corporate governance mechanism that is responsible for overseeing the company's relations with the external auditor. It thus contributes to ensuring the quality of the external audit and reinforces confidence in the auditor's report. This chapter provides a survey of the state of knowledge on audit committees. Given the recent extensive literature reviews done on the topic, we focus on current issues and review selected contemporary relevant studies. Four issues regarding audit committees are identified: their role regarding the appointment and removal of the external auditor, their role in overseeing non-audit services, their interactions with the auditor, and their role in auditor/management disagreements. Overall, the results of the studies reviewed suggest that “strong” audit committees influence audit quality. They also show that there is room for improvement. Audit committees are not the external auditor's “boss”; they act at a distance in the auditor selection process and in the process of resolving disagreements between auditor and management. Consequently, management still drives the relationships with the auditor, and the audit committee arguably does not play its full role in protecting auditors' independence. Finally, this chapter underlines the need for more studies on how the audit committee exerts its oversight role in practice.

Download or read book The Audit Committee Handbook written by Louis Braiotta, Jr. and published by John Wiley & Sons. This book was released on 2010-02-22 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Audit Committee Briefing written by Curtis C. Verschoor and published by . This book was released on 2000 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Audit Committees written by Australian Institute of Company Directors and published by AICD. This book was released on 2008 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: "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.

Download or read book Audit Committee Formation in the Aftermath of 2007 2009 Global Financial Crisis Volume II written by Zabihollah Rezaee and published by Business Expert Press. This book was released on 2016-07-08 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book The Audit Committee Performing Corporate Governance written by Laura F. Spira and published by Springer Science & Business Media. This book was released on 2007-05-08 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do we need to understand audit committees? The Cadbury Committee recommended that UK companies should adopt them in response to financial scandals that have stemmed from dubious financial reporting practices. In other countries, similar commissions have made similar recommendations and audit committees are now a common institution. However, many practitioners doubt whether an audit committee really does much to ensure the integrity of a firm's financial statements because, as outsiders, members don't know enough to dig deeply beneath the numbers. The Audit Committee: Performing Corporate Governance argues that such criticism overlooks the ceremonial function of these committees. The audit committee is an arena where members can form and strengthen shifting and fragmentary networks with each other and with the external auditors. Within these networks, both consensus and independence are demonstrated, generating comfort, which legitimises the company and maintains its access to external sources of capital. The audit committee is a key part of the corporate governance structure within an organisation. Many in the UK have been patched together to meet regulatory requirements and their operation is poorly understood because few people other than their members have access to their deliberations. In this account of the world of audit committees the practitioner will find the ethnographical perspectives on ceremonial performance, consensus, independence, and comfort both familiar and different. It's like looking at a photograph of something commonplace from an unusual angle or through a strange-shaped lens.

Download or read book Auditor Independence written by Ismail Adelopo and published by Routledge. This book was released on 2016-04-08 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Auditor Independence, Ismail Adelopo argues that the importance of auditors' independence cannot be over-emphasised. Not only do auditors provide certification of the truth and fairness of the information prepared by managers, they also have a duty to express opinions on the degree of compliance with laws and regulations guiding a firm's operations. Theirs is a socially important responsibility. In all that has been proposed to mitigate the governance crisis and restore confidence in the market system, relatively little attention has been paid to auditor independence. Examining the historical role of auditing in corporate governance and the regulatory context, this book sets the function within a theoretical framework and then provides empirical analysis of the problem issues such as the relationship between audit committees and external auditors and the probity of providing non-auditing services to audit clients. The focus on matters that are damaging to market confidence and threatening to the reputation of the auditing profession, means the conclusions and recommendations in this book are important for key stakeholders, including policy makers, regulators, those running companies, and their investors and customers. This is also a book for those responsible for training in the auditing profession and for others with a research or academic interest in the matters addressed.

Download or read book The Board of Directors and Audit Committee Guide to Fiduciary Responsibilities written by Sheila Moran and published by AMACOM. This book was released on 2013-07-21 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: You took the highly coveted position on the board or audit committee--now it’s time to figure out what you’re doing. And with SEC scrutiny at an all-time high, there is little room for growing pains. Boards and audit committees can now be held liable for acts of fraud and other corporate malfeasance even if they had no knowledge of wrongdoing in the organization.But relax! This comprehensive and practical guide greatly simplifies complex corporate governance standards, while mitigating the risks involved in the arduous work and increasing dramatically the positive effect over the enterprise that motivated you to take the position you did. Inside these essential pages, discover 10 crucial steps every governing body should take, including:• Cultivate independence • Build a balanced team • Address stakeholder concerns • Approach risk proactively • Spearhead fraud deterrence initiatives • And moreYou should be commended for taking on the duties you have, not intimidated. With this invaluable resource by your side, you can learn how best to satisfy the requirements of board service while also protecting yourself, the other board members, and the organization you have committed to lead to success.

Download or read book External Audit Arrangements at Central Banks written by Mr.Atilla Arda and published by International Monetary Fund. This book was released on 2018-09-11 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper takes stock of external audit arrangements at central banks. Its focus is on the annual audit of central bank financial statements, as well as legal and institutional measures that support audit quality and independence. The paper outlines good practices in these areas and provides a summary of actual practices observed based on a review of audited financial statements and central bank legislation. While the audit frameworks for central banks differ depending on their legal and institutional circumstances, central banks’ external audits increasingly follow international standards. Most of them are audited by auditors with international affiliations and embrace modern governance structures that provide for audit oversight. However, the paper also notes that a sizeable number of central banks do not publish the audit results in a timely manner, which leaves room for improvement in transparency practices.

Download or read book Not for Profit Audit Committee Best Practices written by Warren Ruppel and published by John Wiley & Sons. This book was released on 2006-02-10 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Audit Committee Effectiveness what Works Best written by Richard Steinberg and published by . This book was released on 2000 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Sarbanes Oxley and the New Internal Auditing Rules written by Robert R. Moeller and published by John Wiley & Sons. This book was released on 2004-02-05 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sarbanes-Oxley and the New Internal Auditing Rules thoroughly and clearly explains the Sarbanes-Oxley Act, how it impacts auditors, and how internal auditing can help with its requirements, such as launching an ethics and whistle-blower program or performing effective internal controls reviews under the COSO framework. With ample coverage of emerging rules that have yet to be issued and other matters subject to change, this book outlines fundamental blueprints of the new rules, technological developments, and evolving trends that impact internal audit professionals. Order your copy today!

Download or read book Principles of External Auditing written by Brenda Porter and published by John Wiley & Sons. This book was released on 2014-03-03 with total page 905 pages. Available in PDF, EPUB and Kindle. Book excerpt: Principles of External Auditing has become established as one of the leading textbooks for students studying auditing. Striking a careful balance between theory and practice, the book describes and explains, in non-technical language, the nature of the audit function and the principles of the audit process. The book covers international auditing and accounting standards and relevant statute and case law. It explains the fundamental concepts of auditing and takes the reader through the various stages of the audit process. It also discusses topical aspects of auditing such as legal liability, audit risk, quality control, and the impact of information technology. Brenda Porter is currently visiting Professor at Exeter University and Chulalongkorn University, Bangkok.

Download or read book Audit Committee Formation in the Aftermath of 2007 2009 Global Financial Crisis Volume I written by Zabihollah Rezaee and published by Business Expert Press. This book was released on 2016-07-08 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book The Basics of IT Audit written by Stephen D. Gantz and published by Elsevier. This book was released on 2013-10-31 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Basics of IT Audit: Purposes, Processes, and Practical Information provides you with a thorough, yet concise overview of IT auditing. Packed with specific examples, this book gives insight into the auditing process and explains regulations and standards such as the ISO-27000, series program, CoBIT, ITIL, Sarbanes-Oxley, and HIPPA. IT auditing occurs in some form in virtually every organization, private or public, large or small. The large number and wide variety of laws, regulations, policies, and industry standards that call for IT auditing make it hard for organizations to consistently and effectively prepare for, conduct, and respond to the results of audits, or to comply with audit requirements. This guide provides you with all the necessary information if you're preparing for an IT audit, participating in an IT audit or responding to an IT audit. - Provides a concise treatment of IT auditing, allowing you to prepare for, participate in, and respond to the results - Discusses the pros and cons of doing internal and external IT audits, including the benefits and potential drawbacks of each - Covers the basics of complex regulations and standards, such as Sarbanes-Oxley, SEC (public companies), HIPAA, and FFIEC - Includes most methods and frameworks, including GAAS, COSO, COBIT, ITIL, ISO (27000), and FISCAM