|
Timothy Copnell
In the light of the revised Combined Code and Smith Guidance, there is an increased emphasis on the role of the audit committee in corporate governance. Audit committees must now therefore seek to become more effective in discharging their significant responsibilities.
The ICSA Audit Committee Guide identifies current and emerging issues which audit committees must get to grips with. Describing the audit committee practices that provide the support and structure necessary to fulfil their terms of reference, this guide will help audit committees to:
- Set up and maintain an effective audit committee structure
- Assess the company’s processes relating to financial reporting risks
- Oversee financial reporting
- Evaluate internal and independent audit processes
- Ensure transparency and effectiveness of controls
Documents containing sample wordings and evaluation questionnaires are included in the guide. For convenience these are included on the accompanying CD so that they can be tailored to individual requirements.
Why not buy a copy of this title for all members of your audit committee? For details on multiple copy discounts please call us on 020 7612 7020.
Paperback + CD •
ISBN: 9781860723124 •
224 pages •
Published April 2005 •
£34.95
Contents
Shaping the Audit Committee Agenda
1. The role of the audit committee
Code principles; Code provisions
2 Creating an effective audit committee
Membership
Audit committee composition
Independence
Financial expertise and other skills
Resources; Remuneration
Professional development
3 Running an effective audit committee
Audit committee terms of reference
Audit committee meetings
Communication policies
Assessing audit committee effectiveness
4 Overseeing financial reporting
Audit committee responsibilities
Communications from external auditors
Recent developments
Earnings management
5 Overseeing financial risks and internal control processes
Whistleblowing; Emerging issues
Enterprise management
Emerging ERM model
Risk indicators
Fraud and illegal acts
Complex corporate structures
Emerging Companies
Specialised regulated industries
6 Overseeing the Internal and External Audit Processes
Internal auditors’ oversight
External auditors’ oversight
Appointment, reappointment and removal
Independence
Disclosure
Understanding the audit cycle
Assessment of external auditor
Appendices
About the author
Timothy Copnell: Timothy Copnell is the Director in Charge of KPMG's UK Audit Committee Institute. He qualified as a chartered accountant in 1989 and joined KPMG's Department of Professional Practice in 1993 where he took responsibility for corporate governance matters. He has written a series of practical guides to corporate governance developments for KPMG and also writes regular articles for various publications
|
