US audit committees to call on CAs

US audit committees to call on CAs

Big Four firm PricewaterhouseCoopers is expecting more chartered accountants to join audit committees following the introduction of new corporate governance requirements.

Link: Audit committees – Where to next?

Under Sarbanes-Oxley, at least one member of a public company’s audit committee is supposed to be a financial expert.

PwC partner Bruce Blakley told a gathering of woman accountants in San Diego: ‘Given the current movement of oversight and legislative issues, we as accountants are going to see more opportunities to participate as board and audit committee members.’

Sarbanes-Oxley has brought in a number of new responsibilities for audit committees in the US.

They are now responsible for the appointment and compensation of the auditor and for oversight of the auditor’s work and must also pre-approve audit and non-audit services.

Blakley noted that the responsibilities of some audit committees have expanded to include areas such as risk management, compliance, federal sentencing guidelines, and information systems, WebCPA reported.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource