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Audit committees: where do we go from here?

Audit committees: where do we go from here? Auditors are urged to promote communication with audit committees as well as with the entire board. Contacts with the entire board are most appropriate, given the rise of issues of corporate governance. It is not yet understood how effective audit committees have actually been, although the committees’ objectives are commendable. It is likely that any significant shortcomings will be redressed by synthesizing the work of the committees and of the board. The responsibilities of audit committees will be broadened, especially with respect to new practice areas, some of which involve proactive audit approaches. The qualifications for audit committee membership require upgrading; a need exists for practical accommodation between independence, on the one hand, and the tight market for qualified committee members, on the other. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Managerial Auditing Journal Emerald Publishing

Audit committees: where do we go from here?

Managerial Auditing Journal , Volume 12 (6): 4 – Aug 1, 1997

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References (9)

Publisher
Emerald Publishing
Copyright
Copyright © 1997 MCB UP Ltd. All rights reserved.
ISSN
0268-6902
DOI
10.1108/02686909710180634
Publisher site
See Article on Publisher Site

Abstract

Auditors are urged to promote communication with audit committees as well as with the entire board. Contacts with the entire board are most appropriate, given the rise of issues of corporate governance. It is not yet understood how effective audit committees have actually been, although the committees’ objectives are commendable. It is likely that any significant shortcomings will be redressed by synthesizing the work of the committees and of the board. The responsibilities of audit committees will be broadened, especially with respect to new practice areas, some of which involve proactive audit approaches. The qualifications for audit committee membership require upgrading; a need exists for practical accommodation between independence, on the one hand, and the tight market for qualified committee members, on the other.

Journal

Managerial Auditing JournalEmerald Publishing

Published: Aug 1, 1997

Keywords: Audit committees; Corporate governance; Directors; Effectiveness; Qualifications

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