Practices/Processes
Highlights from the 5th Annual Audit Committee Issues Conference
Audit committee and board oversight is very different today than it was a year ago. Survey findings and dialogue from our Annual Audit Committee Issues Conference point to key trends and top concerns driving audit committee agendas in 2009.
Ten To-Do’s for Audit Committees in 2009
ACI’s annual memo points to ten items for audit committees to keep in mind as they consider - and carry out - their 2009 agendas.
Five Guiding Principles for Audit Committees
Oversight practices that work for one audit committee may not work for another; yet, certain “guiding principles” underline the effectiveness of every audit committee—even as specific oversight practices evolve to address changing risks, regulatory requirements, and corporate governance needs. Newly updated, ACI’s Five Guiding Principles for Audit Committees considers five principles that help ensure oversight practices are applied effectively—that is, by the right people with the right information, processes, and perspectives.
An Approach to Effective Audit Committee Self-Evaluation
Audit committees are faced with increased expectations from many groups, including shareholders, shareholder and governance activists, regulators, the media, and fellow board members. The purpose of this document, An Approach to Effective Audit Committee Self-Evaluation, is to suggest a straightforward evaluation approach for the audit committee based on some of the broad expectations of shareholders, the ultimate group whose interests the board and the audit committee represent. We have based this approach on ACI's Five Guiding Principles for Audit Committees (see above).
We encourage the members of the audit committee to consider the elements included in this document, as well as other approaches, and then develop their own tailored approach to evaluating the effectiveness of their audit committee.
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