Audit Committee Responsibilities Questionnaire

The questions included in this tool can be used by audit committees to evaluate the scope of their responsibilities. 

During the audit planning process, audit committees must meet with management, the internal auditor and the external auditor before and after year-end to discuss all significant items; review and comment on the annual audit plan; review the balance between internal and external audit work; ensure that a process is in place to follow up on audit recommendations; investigate any matter brought to the committee’s attention; and maintain a direct line of communication with internal and external auditors.