Audit Committee

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Dictionary Says

Definition of 'Audit Committee'

An operating committee of a company's board of directors that is in charge of overseeing financial reporting and disclosure. All U.S. publicly-traded companies must maintain a qualified audit committee in order to be listed on a stock exchange. Committee members must be made up of independent outside directors, including a minimum of one person who qualifies as a financial expert.
Investopedia Says

Investopedia explains 'Audit Committee'

Audit committees maintain communication with the company's chief financial officer (CFO) and controller. Audit committees typically have the authority to initiate special investigations in cases where they determine accounting practices are problematic or suspect, or where problems exist with personnel. The audit committee's role includes the oversight of financial reporting, the monitoring of accounting policies, the oversight of any external auditors, regulatory compliance, and the discussion of risk management policies with management.
Search results for

'Audit Committee'

  • Evaluating The Board Of Directors

    http://www.investopedia.com/articles/analyst/03/111903.asp
    ... The Audit Committee The audit committee works with the auditors to make sure that
    the books are correct and that there are no conflicts of interest between the ...

  • Governance Pays

    http://www.investopedia.com/articles/fundamental/03/070903.asp
    ... Ideally, the committee should have sole power to hire and fire the company's
    auditors and approve non-audit services from the auditor. ...

  • Whistleblowers And Their Impact On Business - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0112/Whistleblowers-And-Their-Impact-On-Business.aspx
    ... traded companies were required to set up internal procedures to allow employees
    direct and confidential access to the company's audit committee, and outlined ...

  • Earnings Quality: Reviewing Non-Accrual Items | Investopedia

    http://www.investopedia.com/university/accounting-earnings-quality/earnings4.asp
    ... Although evidence that the proportion of outside board members does not seem to
    matter, an independent audit committee does protect investors' interests ...

  • Ethical Investing: Corporate Governance | Investopedia

    http://www.investopedia.com/university/ethical-investing/ethical-investing6.asp
    ... Investors should also look out for the financial expertise of the audit
    committee and for weaknesses in internal controls. (Learn ...

  • FINRA: How It Protects Investors

    http://www.investopedia.com/articles/financial-theory/11/finra-history-overview.asp
    ... There are several committees, such as the audit committee and other special committees
    that perform various functions or implement specific programs. ...

  • CFA Level 1 Study Guide - Red Flags - Finding Shenanigans ...

    http://www.investopedia.com/exam-guide/cfa-level-1/red-flags/finding-shenanigans.asp
    ... Financial Statement Footnotes; 6.25 The Auditor and Audit Opinion; 6.26 Financial
    Reporting Objectives and Enforcement; 6.27 Accounting ...

  • Getting To Know The Stock Exchanges

    http://www.investopedia.com/articles/basics/04/092404.asp
    ... Furthermore, the compensation committee must be entirely composed of independent
    directors, and the audit committee must include at least one person who ...

  • On This Day In Finance: July 21 - WorldCom Files For Bankruptcy ...

    http://financialedge.investopedia.com/financial-edge/0709/On-This-Day-In-Finance-July-21---WorldCom-Files-For-Bankruptcy.aspx
    ... She took the evidence to the board's audit committee and they terminated
    Scott Sullivan, Worldcom's CFO, along with two others. ...

  • RINO Exposes China's Risk

    http://stocks.investopedia.com/stock-analysis/2010/RINO-Exposes-Chinas-Risk-FEED-RINO-ONP-CGA1119.aspx
    ... has been quiet, but what fueled the most recent downfall was a delay in the company's
    conference call as a result of a meeting with its audit committee. ...

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