Best Practice » Reporting » Audit Committee Best Practices » Policies Regarding Notifications to Audit Committee » Policies Regarding Notifications to Audit Committee
Set Policies Regarding Required Notifications
establish policies for when and how the audit committee will be notified of important events, such as:
- proposed changes in accounting principles;
- disagreements between management and the independent auditors;
- significant changes in management’s estimates;
- use of any non-GAAP accounting principles; and
- unusual financial statement adjustments above a specified dollar threshold;
Review and Address Issues Raised in Annual Management Letter
Further reading: Corporate Governance | Audit | Performance Improvement
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