Your Audit Committee: How to Cope with the End of the “Rubber Stamp” Era

Audit committee members at publicly traded firms now have to put their personal seal of approval on annual report financial statements. And this disclosure will appear over the printed name of each committee member. So don't expect your committee to “rubber stamp” top management's figures any more. They may even argue with you. But the way out is to give them confidence that your figures are indeed correct, improving committee oversight. The authors of this article supply a useful series of checklists that will help do that. © 2001 John Wiley & Sons, Inc.