Best Practices – Monitoring Accounting, Financial Reporting, Internal Control


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In monitoring a company’s accounting and financial reporting processes and systems of internal control, an audit committee could consider the following “bestpractices”:

Conduct  and  Timing  of  Meetings

Set  Policies  Regarding  Required Notifications

Quarterly Review  of the  Adequacy  of  Internal  Controls

Monitor  the  Company’s  Internal  Audit  Function

Quarterly Review and Discussion of  Financial  Statements Disclosures

Address  Risk  of  Fraudulent  Reporting

Assess  the  Audit  Committee’s  Role  in  Monitoring  Compliance  with  the  Company’s Code  of  Conduct  and  the  Law









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