This toolkit uses the COSO Framework to provide guidance for audit committees to achieve effective internal control over financial reporting. The toolkit includes:
- Internal control primer
- Briefing on ICFR
- Checklist of COSO Essentials for the Board
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The creation of an effective audit committee is an important way of enhancing organisational governance and oversight, and it can help reinforce developing the proper “tone at the top.” A key factor to ensuring good governance is dependent upon the audit committee’s effectiveness in executing both its prescribed and regulated responsibilities as well as its best practice duties.
Audit committee toolkit: Internal control checklist Guidelines for the audit committee