Welcome to the AACMI Blog! Through these entries, the association will endeavor to share news and information dedicated to strengthening audit committees around the world. We hope you will visit us often!
- Frederick D. Lipman, President
Improving the Flow of Information to the Audit Committee
05/21/2013 | by Lipman, Frederick D.The audit committee has been recognized as an important entity level control. Independent auditors rely upon the audit committee to provide the auditors with important information necessary to perform the audit function. For example, AS No. 16 requires the independent auditor to “inquire of the audit committee about whether it is aware of matters relevant to the audit, including, but not limited to, violations or possible violations of laws or regulations.”
Model Meeting Agendas
03/01/2013 | by Lipman, Frederick D.From time to time we have received questions from members as to the scheduling of meetings of public company audit committees. In particular, questions have been asked as to what should be on the agenda for each of the meetings and how many meetings should the average audit committee hold. There is no one answer for every public company audit committee since each situation varies with the peculiar circumstances of the public company. However, we have in the past been provided with the following agendas for a total of five meetings of the audit committee. Each agenda sets forth the topics to be covered at that meeting. The agendas assume a calendar year company.CATEGORY: Audit Committee Operations