The Best Practice Network Guidelines | The Best Practice Network » Best Practices – Monitoring Accounting http://www.best-practice.com Definition of a best practice. 'Best Practices' are rules, standards, regulation relating to compliance, audit, risk management. Sat, 14 Sep 2013 10:48:44 +0000 http://wordpress.org/?v=2.8.6 en hourly 1 Best Practices – Monitoring Accounting, Financial Reporting, Internal Control http://www.best-practice.com/best-practice-in-reporting-accounting/audit-committee-duties-best-practices/best-practices-monitoring-accounting/best-practices-monitoring-accounting-financial-reporting-internal-control-16102011/ http://www.best-practice.com/best-practice-in-reporting-accounting/audit-committee-duties-best-practices/best-practices-monitoring-accounting/best-practices-monitoring-accounting-financial-reporting-internal-control-16102011/#comments Sun, 16 Oct 2011 19:41:10 +0000 Bernard-Louis Roques http://www.best-practice.com/?p=867 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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