Audit Committees: A Guide to Good Practice"Role and responsibilities of Audit Subcommittees of Boards. Provides a practical introduction to the role of and responsibilities of the audit committee. Explains the context in which an audit committee typically operates and outlines good practice. Reflects developments in audit committee practice, legislation and gudance from regulatory bodiesand leading global board practices since 2001."--Provided by publisher. |
Contents
Introduction | 5 |
Relevant company objectives | 14 |
Getting the right membership balance | 32 |
Conducting meetings | 38 |
Appendix A sample audit committee charter | 45 |
Further reading | 51 |
Common terms and phrases
agenda and/or appointment appropriate approval APRA Assurance Standards Board ASX Corporate Governance ASX listing rules audit committee chair audit committee charter audit committee meetings audit committee members audit committee practices audit committee's responsibilities audit committee's role audit engagement Auditing and Assurance auditor's report Australian Securities Exchange best practice recommendations Chief Audit Executive company's financial report compliance and ethics compliance managers consider Corporate Governance Council Corporate Governance Principles Corporations Act 2001 Council's Corporate Governance disclosure Discussing ensure external auditors external reporting fraud Governance Council's Corporate identified Institute of Company Institute of Internal internal and external internal audit activity internal audit function internal audit plan internal audit services internal control system issues laws and regulations management and internal material business risks non-executive directors non-financial operation and responsibility oversight performance Practice of Internal Principles and Recommendations Professional Practice regulatory requirements relationships relevant risk and compliance roles and responsibilities scope shareholders significant whistleblower