The relationship between the audit committee
Author:
Emilia VASILE, Daniela MITRAN
JEL:
M42, M48, M49
DOI:
10.20869/AUDITF/2016/137/518
Keywords:
Management, internal auditors, internal control, external auditors, audit committee, board of directors
Abstract:
Audit committees, governance type or otherwise, are a less common feature in EU Member States, where only few countries have extended audit committees or “governance” or similar such committees .
Audit committees in the private sector focus on ensuring the reliability and the internal and external reporting, and therefore on the internal and external audit, the quality of internal control systems and risk management processes. For many countries applying this type of public sector audit committee may be too sophisticated, because there are no preconditions for its existence. The existence of audit committees does not automatically mean that organizations function properly and have no governance, internal control and external reporting problems.
Because of the importance of communication between the internal auditors and the audit committee, the paper addresses issues such as planning discussions with internal auditors, analysis and conclusions as a result of communication, questionnaire models for the addressed areas and planning the meetings with external auditors.
Abstract(118KB)
Article(285KB)