Financial reporting risks should drive audit committee agenda

Terell and Reed discuss the linkage of the key financial reporting risks identified by the management's risk assessment process to the audit committee's agenda and calendar setting. They assert that by establishing a comprehensive process, audit committees will be best prepared to meet the...

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Bibliographic Details
Published in:	Directorship Vol. 29; no. 11; p. 18
Main Authors:	Terrell, Mark C, Reed, Scott A
Format:	Trade Publication Article
Language:	English
Published:	Boston National Association of Corporate Directors 01-12-2003
Subjects:	Audit committees Audits Boards of directors Committees Compliance Education Financial reporting Risk Stock exchanges Stockholders
Online Access:	Get full text
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Summary:	Terell and Reed discuss the linkage of the key financial reporting risks identified by the management's risk assessment process to the audit committee's agenda and calendar setting. They assert that by establishing a comprehensive process, audit committees will be best prepared to meet their unique oversight role; moreover, by creating such a process, audit committees can contribute to the goal of achieving the level and quality of financial reporting necessary to secure the public's trust in their companies' financial reporting and in the capital markets.
ISSN:	0193-4279