Corporate Governance Reforms: Redefined Expectations of Audit Committee Responsibilities and Effectiveness

Journal of Business Ethics 62 (2):115-127 (2005)

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Abstract
Comprehensive regulatory changes brought on by recent corporate governance reforms have broadly redefined and re-emphasized the roles and responsibilities of all the participants in a public company’s financial reporting process. Most notably, these reforms have intensified scrutiny of corporate audit committees, whose role as protectors of investors’ interests now attracts substantially higher visibility and expectations. As a result, audit committees face the formidable challenge of effectively overseeing the company’s financial reporting process in a dramatically changed – and highly charged – corporate governance environment. This paper discusses the new expectations of audit committee responsibilities and effectiveness in the wake of corporate governance reforms, key challenges, “whistleblower” provisions and shortcomings, and provides some directions for future research.
Keywords audit committee effectiveness  Blue Ribbon Committee  corporate governance  Sarbanes-Oxley Act  whistleblower provisions  A Timely Review
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DOI 10.1007/s10551-005-0177-5
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References found in this work BETA

Whistle Blowing and Rational Loyalty.Wim Vandekerckhove & Ms Ronald Commers - 2004 - Journal of Business Ethics 53 (1-2):225-233.
Whistle Blowing and Rational Loyalty.Wim Vandekerckhove & M. S. Ronald Commers - 2004 - Journal of Business Ethics 53 (1-2):225-233.

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Governance and the Common Good.Joseph V. Carcello - 2009 - Journal of Business Ethics 89 (S1):11 - 18.

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