The audit committee’s role is critical to the governance of the organization through its oversight of the financial reporting process. The member's role demands significant time and attention in addressing multiple risks and critical issues. The committee is responsible for ensuring that the financial reporting process is credible, controlled and reliable, and that the company's financial reporting is transparent, consistent and accurate.
Ernst & Young has various resources and publications that provide information on evolving issues and current topics of interest for audit committees including technical and regulatory updates, emerging audit committee interests and concerns and risk oversight. Descriptions and examples of these thought leadership pieces, tools and audit committee materials are available here and through AccountingLink.
BoardMatters Quarterly April 2013
We examine shareholder engagement and talk to BlackRock about their approach and expectations in this issue of BMQ. Learn more.
2013 proxy season preview
We look at how investors view engagement and reveal the topics they’re most focused on this year.
OTC derivatives reform
Boards should focus on how Dodd-Frank could affect companies as compliance with some of the new regulations mandates direct board involvement. Read more.
New tool to help audit committees evaluate the external auditor
The Center for Audit Quality and other organizations have released a new tool that aims to provide audit committees guidance with respect to evaluating the external auditor.
Conflict minerals: Dodd–Frank Section 1502 and the SEC’s final rule
The SEC has issued a final rule to implement new requirements for disclosing the use of certain minerals emanating from select countries. Find out more about the disclosure and reporting requirements.
Audit Committee Member Toolkit
This toolkit can help audit committee members perform their oversight responsibilities and contains samples of an audit committee charter; various accounting, financial reporting, and internal control-related documents; a review of financial information for the audit committee to consider; a self-assessment questionnaire, and more.