Transcription of A guide for audit committees - EY
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EY Center for Board Matters Staying on course a guide for audit committees Staying on course The role of the audit committee in corporate governance is more important than ever. As an audit committee member, your ongoing journey will be filled with many stops along the way. The Congress, Securities and Exchange Commission (SEC), a guide for audit committees New York Stock Exchange (NYSE), NASDAQ and Public Company Accounting Oversight Board (PCAOB) continue to place significant responsibility on the audit committee and its members. The audit committee is expected to monitor company risk, the integrity of the company's financial statements and internal controls, the qualifications and independence of the company's independent auditor, the performance of both the company's internal audit function and its independent auditor, and the company's compliance with laws and regulations.
Independence of the independent auditor SOX Sections 201 and 202 require audit committees to preapprove all audit and non-audit services. The Act makes
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