Audit Committees : A Guide for Directors, Management, and Consultants

by Burke, Frank M.; Guy, Dan M.; Tatum, Kay W.; Franklin, Barbara Hackman

• ISBN13: 9780735530447
• ISBN10: 0735530440
• Edition: 2nd
• Format: Paperback
• Copyright: 2002-03-01
• Publisher: Wolters Kluwer

Summary

Audit Committees: A Guide for Directors, Management, and Consultants is presented in an easy-to-read format, especially for: Directors serving on audit committees; other members of the board of directors; CEOs, CFOs, and in-house legal counsels; internal and external auditors; outside legal counsels; other consultants to audit committees. Audit Committees: A Guide for Directors, Management, and Consultants is coauthored by professionals with many years of hands on experience, both in the AICPA and in private practice. Audit Committees: A Guide for Directors, Management and Consultants gives guidance on subjects rarely discussed, such as the process for terminating an external auditor. it emphasizes the importance of regular evaluations of audit committee performance to help make the audit committee more effective and efficient. You get the latest requirements of the American Institute of CPAs, New York Stock Exchange, And The Securities and Exchange Commission.

Table of Contents

List of Exhibits	xvii
List of Appendices	xix
How to Use This Book	xxi
About the Authors	xxiii
Acknowledgments	xxv
Preface	xxvii
Foreword from the Honorable Barbara Hackman Franklin	xxix
The Need for an Audit Committee	1	(8)
Early History of the Audit Committee Concept-1939 to 1987	9	(10)
The 1987 Treadway Commission Report-A Defining Event	19	(8)
Additional Developments from Treadway to 2002	27	(22)
The 1999 Blue Ribbon Committee on Improving the Effectiveness of Corporate Audit Committees-Another Major Milestone	49	(16)
Creating an Audit Committee	65	(8)
Appointing and Educating the Audit Committee	73	(10)
Understanding Financial Statements	83	(34)
The Responsibilities of an Audit Committee	117	(26)
The Audit Committee's Oversight of Internal Control	143	(18)
The Potential Impact of the Caremark Decision on Audit Committees	161	(10)
Relationship with the Internal Auditor	171	(24)
Relationship with the External Auditor	195	(34)
Audit Committee Meetings	229	(8)
Termination of the External Auditor	237	(8)
Evaluating the Audit Committee	245	(4)
Audit Committees for Not-For-Profit and Public Sector Entities	249	(8)
Legal Liability of the Audit Committee and Its Members	257	(12)
Audit Committees and Expanded Responsibilities	269	(8)
Appendices	277	(72)
Where to Find More Information	349	(4)
Glossary	353	(18)
List of Acronyms	371	(2)
Index	373