The Essential Guide to Building a Strong and Cohesive Audit Committee

Learning Objectives

• To understand the responsibilities of the  Audit Committee.
• To understand the evolution of the audit committee. 
• To understand the importance of the audit charter and how to draft one that will ensure the effectiveness of the audit committee.
• To introduce the Magic 9 and discuss how this can be used for operational prudence and risk management.

Course Description

Are you a member of an organization's board of directors? Do you feel unprepared to oversee the financial reporting process or select an independent auditor? Then this webinar is for you! The audit committee is a vital component of the board responsible for financial oversight, and this course will provide you with the tools, rules, and guidelines you need to become a successful member of the committee. 

As mandated by the Sarbanes-Oxley Act of 2002, the US Securities and Exchange Commission (SEC) adopted rules and requirements that a company needs to fulfill to get its securities listed on a national exchange. The requirements related to the Audit Committee include the following: 

• The audit committee must consist of independent members. 
• The audit committee should consist of at least three independent directors. One of them must be a Financial Expert. 
• The audit committee is given the responsibility of appointing and overseeing the company's independent auditor.  

As an extension of the board, the member may be volunteered; to serve on the board.  

There are various guidelines as to what makes an effective audit committee. Join this Auditing Webinar with our Expert Speaker Denise Cicchella and learn the tools, rules, and guidelines members can take to become a cohesive audit committee.

Overview

• One member must be a finance expert

  10 mins
• Ensure proper and appropriate policies and procedures for the prevention and identification of fraud.

  23 mins
• Frauds that should be reported to the board

  35 mins
• Complexity of international corporations

  54 mins
• Expectations of the audit committee

  80 mins
• Professional skepticism

  98 mins
• Top 10 recommendations

  101 mins