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Top accountant provides blueprint for effective audit committees

Tammy Whitehouse | April 17, 2017

The top accountant at the Securities and Exchange Commission provided a brief primer for audit committees on everything it takes to be effective in the job these days. Spoiler alert: there’s a lot more to it than regular meeting attendance.

Through its oversight of the financial reporting process, the audit committee is critical to producing credible financial statements, said Wesley Bricker, chief accountant at the SEC, in a recent speech. “The importance of the audit committee’s work cannot be overstated,” he said. "Fulfilling its oversight responsibilities places the audit committee at the center of the relationship between management of a public company and its independent auditor.” Investors rely on audit committees to establish and maintain appropriate tone, capacity, and competence, he said.


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