Monthly Archives: November 2014

Governance responsibility (additional) of an Audit committee in a group of companies

This is an effort to convince Audit committees overseeing a company which is a holding company, to act responsibly, in arriving at a conclusion that the group’s consolidated financial statements give a true and fair view. For this purpose, I … Continue reading

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Governance and D&O insurance

I was part of a panel discussion on 17 Nov, on the benefits of Directors & Officers (D&O) insurance cover for organizations and why it would contribute to better governance. Some of my key points were from the discussion were; … Continue reading

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My Top 10 thoughts, for Audit Committee members

When a company puts out a tender for audits and if a new auditor is quoting a significantly low fees what do you do? #1. Do you ask the proposed auditor the level of fees charged for similar engagements and … Continue reading

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Regulators view of reducing risk from Related Party Transactions (RPT)

The US SEC approved Auditing Standard No. 18, Related Parties in June. The standard becomes effective for audits after December 15, 2014. Related party transactions, significant unusual transactions and financial relationships and transactions with executive officers (such as executive compensation … Continue reading

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