Description
The 2007-2009 global financial crisis eroded the public confidence in corporate governance and the financial reporting process. Restoring public confidence requires a significant coordinated effort, regulatory measures, and best practices by policymakers, regulators, business organizations, and the accounting profession. One of the key provisions of these regulatory reforms, which seek to restore public confidence, is that a properly constituted and functioning audit committee can improve the quality of financial reporting by acting as an effective arbitrator in management and auditor disputes. This course examines audit committee attributes as an integral part of corporate governance to improve quality, reliability, and transparency of financial reports as well as credibility and effectiveness of the related audit functions. The effectiveness of the audit committee depends on the quality, timeliness, and reliability of information it received from management, internal auditors, legal counsel, and external auditors regarding financial, internal control, risk, legal, and auditing issues. This course presents the roles, responsibilities, structure, composition, qualification, authority, resources, and other attributes of the audit committee in accordance with the most recent regulatory requirements and best practices. Please join Dr. Zabihollah (Zabi) Rezaee, noted teacher, industry consultant, and author, as he offers guidance on understanding the requirements for and best practices of effective audit committees.
