Commentary: What Are an Audit Committee's Key Responsibilities?
Daily Record (Rochester, NY) › September 12, 2008
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Summary
As auditors, we are often asked, "What are the responsibilities of audit committees?"
Some examples of responsibilities that should be outlined in a company's audit committee charter are included here. For publicly traded companies, when constructing committee responsibilities, the audit committee should consider specific responsibilities outlined in SEC rules, as well as its respective listing exchanges. It also should consider additional facts and circumstances specific to the company.See the full content of this document
Extract
Commentary: What Are an Audit Committee's Key Responsibilities?
Financial reporting
* Discuss, review and assess the annual and interim financial statements with management and the auditors before they are released to the public or filed with the SEC, and formally recommend to the board the audited annual financial statements' i...See the full content of this document
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