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the audit committee communicate with internal audit, external audit and CFO
on behalf of the company.
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∙ 12y ago
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What are the advantages of statutory auditing?
advantages and disadvantages of non statutory audit
What are the advantages of non statutory audits?
advantages and disadvantages of non statutory audit
What was a major contributor to the collapse of Enron in 2001?
Lax oversight by the company's audit committee
What are the advantages of skills audit?
allows an individual to identify their strength and weaknesses
What are the advantages of audit report?
-it shows that the financial transaction of the company is true and fair and comply with (GAAP) it attracts investors
What are the advantages and disadvantages of external audit?
An advantage to having an external audit is the fact that the audit will not be biased. A disadvantage to external audits is the process. It can be long and invasive.
What resources does the American Institute of Certified Public Accountants' Audit Committee Effectiveness Center provide?
The components of the center are the Audit Committee Toolkits (corporate, not-for-profit, and government), Audit Committee Matching System, Audit Committee e-Alerts, and a bank of materials containing information for and about audit committees.
Is the audit committee part of internal audit?
audit committee is part of board, and it showcases the audit observations and present it to board. board comprises of external directors so a fair and transparency is ensured.
Can audit committee protect minority shareholder interest?
Most of Audit Committee INED are friends of Chairman, so they are not really independent!
What is audit committee?
Audit Committe enhance communication between Internal Audit, External Audit and CFO. Audit Committe assist directors to avoid litigatio risk.
What is one of the requirements that must be met in order for audit committee members to meet the standard of independence?
a member of an audit committee of an issuer may not, other than in his or her capacity as a member of the audit committee, the board of directors, or any other board committee--accept any consulting, advisory, or other compensatory fee from the issuer
Is there a requirement that an audit committee be independent?
Section 301 of the act contains an amendment to Section 10A of the Securities Exchange Act of 1934, which relates to independence of audit committee members.
What are the advantages and disadvantages of an audit?
What are advantages of human resources auditing
What is the origin of audit committee?
United state (new york)
What are the advantages of statutory auditing?
advantages and disadvantages of non statutory audit
Who is the auditor for IBM?
IBM accounting audits are governed by the Audit Committee which reports directly to the board of directors. The Audit Committee works with both the IBM in-house accounting department heads and an external accounting audit team (currently Pricewaterhouse Coopers LLC).
What did the Blue Ribbon Committee recommend?
It recommended stronger audit committee oversight responsibilities relating to financial reporting.
