Enhancing Perceived and Actual Audit Committee Effectiveness through Financial Expert Certification | Zendy

Jonathan H. Grenier | Zendy; Brian Ballou | Zendy; Seth Philip | Zendy

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Enhancing Perceived and Actual Audit Committee Effectiveness through Financial Expert Certification

Author(s) -

Jonathan H. Grenier,

Brian Ballou,

Seth Philip

Publication year - 2012

Publication title -

current issues in auditing

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.274

H-Index - 11

ISSN - 1936-1270

DOI - 10.2308/ciia-50276

Subject(s) - audit committee , audit , chief audit executive , certification , joint audit , accounting , business , audit plan , information technology audit , audit evidence , financial audit , external auditor , internal audit , management , economics

SUMMARY: The purpose of this paper is to generate and inform academic, practitioner, and regulatory discussion on means to promote perceived and actual audit committee effectiveness. As one potential method, we propose that the SEC initiate a CPE-driven certification program for audit committee members designated as financial experts. Our proposal addresses many of the challenges that post-SOX audit committees face (cf. Beasley et al. 2009; Cohen et al. 2010) by emphasizing their oversight role, sharing audit committee best practices, enhancing the accountabilities of external auditors, and sending a strong signal to stakeholders that the audit committee owns the audit process.

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