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Audit Committees: Regulation and Practice, Second Edition

This is the only complete, all-in-one guide to complying with every aspect of the new SEC rules and stock exchange listing requirements.

To help companies comply with the new recently enacted requirements, the authors have compiled Audit Committees: Regulation and Practice as a working reference on audit committees for everyday use by corporate audit committee members, directors, general counsel, outside counsel and legal scholars specializing in this area of corporate governance, among others.

The completely new, second edition includes all of the materials you need to consult in order to create, maintain, advise and/or serve on a well-functioning audit committee, including:

Audit Committees: Regulation and Practice also contains an illustrative selection of best practices for audit committee chairs and members. For the convenience of the reader, the authors have included an index that is designed to identify the location of information by subject matter that may not be readily apparent from the Table of Contents.

Benefits and Features
Audit Committees: Regulation and Practice arms the reader with straightforward, practical guidance from corporate governance experts. At every phase of structuring audit committees...from identifying initial issues of audit committee composition...through on-going considerations of required disclosure and changing audit committee members...to understanding potential liability and avoiding enforcement actions...the reader gains a better understanding of how the new regulations affect:

  • Committee size
  • Independence of committee members
  • Financial literacy
  • Audit committee charter provisions
  • Communications with outside auditors
  • Independence of accountants and auditors
  • Pre-approval of audit and non-audit services
  • Potential liabilities
  • All audit committee reporting and disclosure requirements

    • Table of Contents
    Introduction

    Special Note: The Role of The Audit Committee in Corporate Governance
  • An Overview Of The New Audit Committee Standards
  • New Sec Regulations Affecting Audit Committees
  • Auditor Independence and Accounting Issues
  • Other Sarbanes-Oxley Provisions Affecting Audit Committees
  • New Listing Standards of the Self-Regulatory Organizations Affecting Audit Committees
  • Transitional Periods for New Regulations
  • The Audit Committee Charter
  • Sample Proxy Statements Disclosure Regarding the Audit Committee
  • Other Sample Audit Committee-Related Items
  • Auditor Committee Self-Assessment Guides
  • Sample Audit Committee Calendar
  • Financial Reporting "Red Flags" and Key Risk Factors
  • Sample Questions For Audit Committees
  • Selected Articles on New Audit Committee Regulations

    • Appendix A: The Sarbanes-Oxley Act Of 2002

    Appendix B: Deloitte & Touche LLP, Audit Committees Resource Guide Deloitte & Touche LLP, Public Sector Audit Committees Resource Guide

    Appendix C: Ernst & Young Audit Committee Library

    Appendix D: PricewaterhouseCoopers LLP, Current Developments For Audit Committees 2003

    Index