Audit Committee Essentials

Author： Curtis C. Verschoor  

Publisher： John Wiley & Sons Inc‎

Publication year： 2008

E-ISBN: 9780470337073

P-ISBN(Hardback):  9780471699590

Subject： F2 Economic Planning and Management

Language： ENG

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Praise for Audit Committee Essentials

"Audit Committee Essentials is an excellent and comprehensive resource, documented with key references and illustrated with real-life company examples for all types of commercial and nonprofit enterprises. Dr. Verschoor brings into focus the intertwined impact of risk management, internal controls, and ethics on oversight responsibilities for both the audit committee and the entire board of directors. From my personal perspective as an audit committee member and as a director of both profit and nonprofit entities, this book should be required reading for corporate management, boards of directors, and their committees."
--George K. Gill, Chairman and CEO of PetAg, Inc.; Director and member of the Investment and Audit Committees of the United Methodist Foundation of Northern Illinois

"Maintaining the highest ethical standards is critical to the success of not-for-profits in today's world. Dr. Verschoor's book provides a practical, highly prescriptive approach to ensuring that governance processes meet the highest expectations of managers, employees, volunteers, contributors, and other stakeholders. I am very impressed with the readability of the book. It definitely raises one's awareness of the need for a thought-out plan that ensures strong financial and ethical credibility."
--John S. Maxson, President and CEO Greater North Michigan Avenue Association, Chicago, Illinois

A concise and readable account of the audit committee's roles and responsibilities

The Sarbanes-Oxley Act has changed the way all corporations now operate, regardless of size. In Audit Committee Essentials, goverance expert Curtis Verschoor explains with great detail and razor-sharp precision why internal control is so critical, emphasizing financial literacy, a requirement under Sarbanes-Oxley, as well as oversight of the financial reporting process and related controls, ethics and the internal and independent audits.

Written for seasoned professionals as well as newly assigned board members, Audit Committee Essentials is a vital tool in order to stay abreast of the rapidly changing governance requirements and responsibilities of audit committees.

Chapter

Acknowledgements

pp.：  1 – 7

Contents

pp.：  7 – 9

About the Author

pp.：  9 – 15

About The Institute of Internal Auditors

pp.：  15 – 16

Preface

pp.：  16 – 17

Chapter 1: Evolution of Audit Committees

pp.：  17 – 23

Chapter 2: Full Board Responsibilities and Effective Board Processes

pp.：  23 – 35

Chapter 3: Personal Characteristics of Effective Boards and Members

pp.：  35 – 55

Chapter 4: Duties of Audit Committees Prescribed by Law, Regulation, or Rule

pp.：  55 – 62

Appendix 4A: FEI Corporate Governance Checklist

pp.：  62 – 82

Chapter 5: Overview of Additional Duties of Audit Committees Considered to Be Best Practices

pp.：  82 – 84

Chapter 6: Necessary Characteristics of Audit Committees and Their Members

pp.：  84 – 97

Appendix 6A: Audit Committee Performance Evaluation Questionnaire

pp.：  97 – 105

Chapter 7: The Audit Committee and Its Charter

pp.：  105 – 111

Appendix 7A: Sample or Model Audit Committee Charter (Statutory and Regulatory Perspective)

pp.：  111 – 114

Appendix 7B: Sample Audit Committee Charter from the Institute of Internal Auditors Research Foundation

pp.：  114 – 120

Appendix 7C: Excerpts from Selected Audit Committee Charters

pp.：  120 – 124

Chapter 8: Audit Committee Oversight of Financial Statements and Financial Disclosures

pp.：  124 – 130

Chapter 9: The Audit Committee and Internal Auditing

pp.：  130 – 139

Chapter 10: The Audit Committee and Risk Management

pp.：  139 – 148

Chapter 11: The Audit Committee and Internal Control

pp.：  148 – 159

Appendix 11A: Internal Control—A Tool for the Audit Committee

pp.：  159 – 169

Chapter 12: The Audit Committee and Ethics-Related Initiatives

pp.：  169 – 175

Appendix 12A:Seven Minimum Components of an Effective Compliance and Ethics Program Under U.S. Sentencing Guidelines

pp.：  175 – 185

Appendix 12B: UPS Code of Business Conduct

pp.：  185 – 187

Appendix 12C: Google, Inc. Code of Conduct

pp.：  187 – 207

Chapter 13: The Audit Committee and Information Technology

pp.：  207 – 222

Appendix 13A: IT Governance Controls Checklist

pp.：  222 – 231

Chapter 14: Audit Committee Issues in Not-for-Profit Entities

pp.：  231 – 235

Appendix 14A: Board Self-Evaluation Scorecard

pp.：  235 – 241

Appendix 14B: Checklist for Directors of Nonprofits

pp.：  241 – 243

Chapter 15: Audit Committee Resources

pp.：  243 – 245

Glossary

pp.：  245 – 250

Index

pp.：  250 – 256

LastPages

pp.：  256 – 258

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