1. The effective corporate audit committee.
- Author
-
Mautz, R. K. and Neumann, F. L.
- Subjects
AUDIT committees ,COMMITTEES ,AUDITING of corporations ,CORPORATE directors ,INTERNAL auditing ,ORGANIZATIONAL structure ,CORPORATE finance ,CORPORATE governance ,MANAGERIAL accounting - Abstract
The financial debacles of some well-known companies during the past year have troubled many directors and other policy-making executives. Could such calamities have been prevented by some means--or, at least, was there some way of giving responsible officers more advance warning of financial difficulty? Not surprisingly, interest is growing in such organizational devices as the corporate audit committee. This article presents the findings of a large-scale research project on audit committee operations in industry. Audit committees are not as common as many observers think, the study shows. But they have proved quite effective if staffed and organized in appropriate ways, and the claimed advantages for outside directors, corporate executives, and CPAs have been borne out in corporate experience. [ABSTRACT FROM AUTHOR]
- Published
- 1970