What Should Audit Committees Focus on in 2011?

Posted on Jan 5, 2011

KPMG’s Audit Committee Institute has released suggestions for audit committees (you can download the report here).

Their #1 tells directors to “keep the eye on the ball: financial reporting and related internal control risk”. I can understand why a public accounting firm would promote a focus on financial reporting, but should that be the top priority for audit committees? Is that dated thinking, given the eye-opening events of the recent past?
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