There continues to be interest from investors, regulators, and others regarding how audit committees perform their responsibilities, says the CAQ.
Investors gain no benefit from a 1999 rule requiring audit committees to have at least three members and be free of conflicting interests, research finds.
An EY report says more companies are disclosing how they oversee and appoint external auditors and the reasons for changes in fees.
External auditors are placing more focus on evaluating internal controls over financial reporting, leading to higher fees for companies.
The PCAOB will take a second crack at a proposal to require an auditor to reveal the thinking behind troublesome audit opinions.
In their proxy statements, more large companies are explaining how they pick an external auditor, says EY.
Audit committees may not be as bad as the SEC thinks--or as good as they should be.
