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Critical Success Factors : How to Establish Advantageous Collaboration for both the Audit Committee and the External Audit
Journal
Audit Committee News
Type
journal article
Date Issued
2014-06-01
Author(s)
Abstract
As the capital markets continue to digest various corporate governance reforms, audit committees have been forced to refine - some would even say to redefine - their role. Quite fundamentally, the corporate governance system today expects more from an audit committee than it ever has: Audit committee members are not only considered to help managing financial, operational and compliance risks by means of enhancing the quality of financial reporting, but viewed as essential assurance providers that play an important role in the governance of a company.
This article illustrates that good corporate governance appears to be enhanced if increased interaction and communication occurs among the essential players of the governance mosaic; including the audit committee and the external audit as increased interaction may improve financial literacy, provide better understanding of management's intentions, mitigate the influence of insider directors, and augment financial reporting quality and overall involvement.
http://www.kpmg.com/CH/en/auditcommittee/newsletter/Documents/pub-20140625-ac-news-46-article-01-en.pdf
This article illustrates that good corporate governance appears to be enhanced if increased interaction and communication occurs among the essential players of the governance mosaic; including the audit committee and the external audit as increased interaction may improve financial literacy, provide better understanding of management's intentions, mitigate the influence of insider directors, and augment financial reporting quality and overall involvement.
http://www.kpmg.com/CH/en/auditcommittee/newsletter/Documents/pub-20140625-ac-news-46-article-01-en.pdf
Language
English
Keywords
Audit Committee
Board of Directors
Board
External Audit
External Audting
Success Factors
Collaboration between Audit Committee and External Audit
Corporate Goverannce
HSG Classification
contribution to practical use / society
Refereed
No
Publisher
KPMG's Audit Committee Institute
Publisher place
Zürich
Number
46 / Q3
Start page
4
End page
7
Pages
4
Subject(s)
Division(s)
Eprints ID
232444