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New study shows more audit committee disclosure

Tammy Whitehouse | August 22, 2017

An EY study of Fortune 100 proxy materials shows audit committees continue to make incremental additional voluntary disclosures to explain their oversight of the external audit.

Nearly 90 percent of audit committees explicitly said in their 2017 proxies that the audit committee is responsible for the appointment, compensation, and oversight of the external auditor, up from 81 percent in 2016 and nearly double from 2012. More than half, or 56 percent, of audit committees explained the factors they used to assess the external auditor’s qualifications, up from 48 percent in 2016 and 17 percent in 2012.

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