SEC Officials Question Increased Demands on Audit Committee Members | JD Supra

 

In a December 9 address at the 2015 AICPA National Conference on SEC and PCAOB Developments, SEC Chair Mary Jo White discussed the “heavy demands” placed on audit committees. In…

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Dave Tate, Esq. comments. Agree. The demands on audit committees are high. But how would you change that? Decrease the statutory and stock exchange audit committee required responsibilities? I don’t hear anyone suggesting a reduction. The article does mention the time requirements of risk management oversight – we could definitely use additional discussion and understanding about the extent of audit committee responsibilities for risk management oversight, and audit committee charter review – there is a need for stakeholder understanding about the extent of audit committee responsibilities in risk management. The following is a link to my January 3, 2016, updated Tate’s Excellent Audit Committee Guide – at the last 10 pages I have attached two audit committee charters with some comments – you can see the extent of the audit committee responsibilities. See http://wp.me/p75iWX-q for the January 3, 2016, updated Tate’s Excellent Audit Committee Guide (183 pages).

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