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Global report suggests better leveraging audit committees

Tammy Whitehouse | May 30, 2017

The global association of audit regulators is pondering how audit committees can be better leveraged to raise the bar on audit quality, including whether audit committees should have a more direct line of contact with audit regulators.

The International Forum of Independent Audit Regulators, which includes the Public Company Accounting Oversight Board in the United States, published a paper recently describing its observations about the “state of play” regarding audit committee requirements globally.  The paper raises questions for audit regulators globally to consider in terms of how audit committees oversee auditors and what further steps could be taken to improve audit quality. It also provides nearly 20 questions audit committees could ask their auditors now, absent any regulatory change...

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