Please use this identifier to cite or link to this item: https://repository.iimb.ac.in/handle/2074/13658
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dc.contributor.authorNarayanaswamy, R
dc.date.accessioned2020-08-07T14:54:33Z-
dc.date.available2020-08-07T14:54:33Z-
dc.date.issued2018-12-18
dc.identifier.urihttps://repository.iimb.ac.in/handle/2074/13658-
dc.descriptionBloombergQuint, 18-12-2018
dc.description.abstractThe audit committee is unquestionably the most powerful of all board committees. The board is responsible for eliminating the conflict of interest and reducing information asymmetry between shareholders and management. The audit committee is its principal arm for fulfilling these responsibilities. The audit committee’s mandate is to oversee financial reporting and related controls. It encompasses a review of financial earnings releases and filings, risk oversight, oversight of the external auditor, monitoring ethics and compliance policies, and oversight of internal audit. In practice, the audit committee becomes the referee in all matters involving questionable management conduct. The audit committee’s role became prominent in several companies including Infosys, IL&FS, Jet Airways, Ricoh International, ICICI Bank, the National Stock Exchange, and the Tata Group. The matters included acquisitions, real estate investment, financial reporting, top management decisions, related party transactions, and promoters’ conduct. At least four critical functions of the audit committee are either ignored or deserve more importance. From boards and committee members. Read more at: https://www.bloombergquint.com/opinion/board-failures-why-audit-committees-arent-for-the-faint-hearted
dc.language.isoen_US
dc.publisherBloomberg
dc.subjectAudit
dc.subjectFinancial reporting
dc.titleBoard failures: Why audit committees aren’t for the faint-hearted
dc.typeMagazine and Newspaper Article
dc.identifier.urlhttps://www.bloombergquint.com/opinion/board-failures-why-audit-committees-arent-for-the-faint-hearted
dc.journal.nameBloombergQuint
Appears in Collections:2010-2019
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