Each audit committee is unique and must be responsive to the specific company environment. In general, most committees formally meet with the internal and external auditors at least twice during the year and often more frequently. Both groups, along with management, are often in attendance at audit committee meetings. The 10 areas listed in this document offer an overview of what typically encompass the most common audit committee responsibilities.
This tool contains leading practices and key performance indicators organizations should use for the audit committee's role.