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Audit Committees: How Good Are They?
Author(s) -
DeZoort F.Todd,
Hermanson Dana R.,
Houston Richard W.
Publication year - 2002
Publication title -
journal of corporate accounting and finance
Language(s) - English
Resource type - Journals
eISSN - 1097-0053
pISSN - 1044-8136
DOI - 10.1002/jcaf.10070
Subject(s) - blame , materiality (auditing) , audit , accounting , audit committee , business , chief audit executive , joint audit , audit plan , internal audit , psychology , social psychology , philosophy , aesthetics
Audit committees must bear some of the blame for recent corporate scandals. Perhaps they were asleep at theswitch. But how much financial expertise do audit committee members really have? And how often do theydiscuss materiality issues with auditors? A national survey of 300 audit committee members provides someanswers—and not all of them are comforting. © 2002 Wiley Periodicals, Inc.