Open AccessSpecialists accounting in audit committees and their role in corporate governance
Author(s) -
Halina Buk
Publication year - 2018
Publication title -
kwartalnik nauk o przedsiębiorstwie
Language(s) - English
Resource type - Journals
eISSN - 2719-3276
pISSN - 1896-656X
DOI - 10.5604/01.3001.0012.7773
Subject(s) - accounting , joint audit , chief audit executive , audit , business , audit committee , audit plan , information technology audit , audit evidence , internal audit , shareholder , control environment , corporate governance , statutory law , external auditor , finance , political science , law
The new act on statutory auditors, audit forms and public oversight, which came into force in the first half of 2017, introduced important changes related to activities of audit com-mittees supervisor board in public-interest entities. The implemented regulations strengthened the role of audit committees in monitoring of financial statements, audit process and internal control, and choice of audit firm. The Act clearly defined the profes-sional competencies that are needed by the members of an audit committee. One of them should have knowledge of the branch, and at least one should have knowledge in ac-counting or in financial audit. This requirement will make substantive supervision better, and the financial market participants will trust published information more. The aim of the article is to present the role of accounting specialists, when they are the members of an audit committee. The article refers to the kinds of activities, with widely understood interest of the company and shareholders.