| Item Type |
Book Section
|
| Abstract |
Members of the audit committee are said to have "a part-time job with full-time responsibilities". Over the years various corporate governance codes have increasingly expanded the roles and responsibilities of the audit committee. Today, audit committee members generally face increased regulation, imposed practices, and liability risks higher than other board committees combined.
Audit committees are thus not only considered to help managing financial, operational and compliance risks by means of enhancing the quality of financial reporting, but viewed as essential assurance providers that play an important role in the governance of a company. However, the audit committees' potential for active influence in the running of an organization's risk management and internal control system is frequently undermined. This is since audit committee members are often more absorbed with the oversight of the respective functions (i.a., the external and internal audit) than with the underlying processes and activities (i.e., risk management and internal control systems).
The objective of this paper is to provide insights into the demanding role of audit committees, particularly with regard to effective risk management and internal control |
| Authors |
Ruud, Flemming; Isufi, Shqiponja & Sutter-Rüdisser, Michèle F. |
| Editors |
Lück, Wolfgang |
| Language |
German |
| Keywords |
Audit committee, audit committee members, role of audit committee, board, board of directors, directors, corporate governance, governance, risk management, internal control, internal control system, internal audit, assurance, assurance services, risk, control, oversight, management |
| Subjects |
business studies |
| HSG Classification |
contribution to scientific community |
| Refereed |
No |
| Date |
2011 |
| Publisher |
Oldenbourg Wissenschaftsverlag |
| Place of Publication |
München |
| Page Range |
103-114 |
| Number of Pages |
12 |
| Title of Book |
Jahrbuch für Wirtschaftsprüfung, Interne Revision und Unternehmensberatung 2011 |
| ISBN |
978-3-486-70554-6 |
| Depositing User |
Prof. Dr. Michèle Florence Sutter Rüdisser
|
| Date Deposited |
15 Apr 2011 09:49 |
| Last Modified |
20 Jul 2022 17:05 |
| URI: |
https://www.alexandria.unisg.ch/publications/97566 |
The Role of the Audit Committee for Establishing Effective Risk Management and Internal Control
![[img]](http://www.alexandria.unisg.ch/97566/1/med_img.jpg)
