Transcription of Audit Committee assessment of finance function - …
{{id}} {{{paragraph}}}
Example: stock market
Audit Committee assessment of finance function - …
IoDSA FAQs Audit Committee assessment of finance function Frequently Asked Questions Audit Committee assessment of finance function 1. Why should the Audit Committee assess the finance function ? The assessment of the finance function by the Audit Committee is not required by legislation. However, since the legislated duties of the Audit Committee include oversight over the financial affairs of the company, it is implied that Audit committees should satisfy themselves of the competence of the individuals involved in the finance function in order to place reliance on the information obtained from them. As a matter of best practice, King III recommends in Chapter 3, Principle 3 that: The Audit Committee should satisfy itself of the expertise, resources and experience of the company's finance function .
The Audit Committee should include brief commentary on the effectiveness of the finance function in its report to the shareholders, to be included in the annual financial statements. Having assessed the finance function and arrived at its conclusion, the Audit Committee should also use
Tags:
Information
Domain:
Source:
Link to this page:
Please notify us if you found a problem with this document:
Related search queries
COMPUTER, INC. AUDIT AND FINANCE COMMITTEE, COMPUTER, INC. AUDIT AND FINANCE COMMITTEE CHARTER, COMMITTEE, AUDIT AND FINANCE COMMITTEE, Minutes: Audit and Finance Committee Meeting, New York State Thruway, MINUTES . AUDIT AND FINANCE COMMITTEE MEETING, AUDIT, Of Reference Audit & Finance Committee, Finance Committee, PTA Financial Review/Audit Committee Report, Finance & Audit Committee, A guide for audit committees, Audit committee, Audit, Finance & Enterprise Committee, Finance, Audit, and Human Resources Committee Meeting, Audit, and Human Resources Committee