Protiviti’s January 7 webinar, The 2016 Audit Committee Agenda, drew a large and diverse audience and a lot of interesting and relevant questions were asked. In this third article of a four-part series, Jim DeLoach and David Brand take turns answering some of the questions that couldn't be addressed live due to time.
Questions addressed in this article include: Relative to other rising concerns (such as cybersecurity), is fraud less important than in previous years? Aren’t the auditors the third line of defense?
In the fourth and last part of this discussion, we will address the critical importance of preparing now for pending changes in the revenue recognition rules.