for their help in arranging many of our interviews. We thank Peter Gleason, Chuck ReCorr, and Hal Shear from the National Association of Corporate Directors, Ellen Richstone from Financial Executives International, Warren Neel from the University of TennesseeГўВЂВ™s Corporate Governance Center, and Chris Rossie and Patrick Taylor from Oversight Systems, Inc. An earlier version of this paper was presented at the 2007 Contemporary Accounting Research Conference, generously supported by the Canadian Institute of Chartered Accountants. Much of this * Accepted by Michel Magnan. The intense focus on greater audit committee responsibility has led to a number of studies on audit committee performance (for reviews of the academic literature on audit committees, see Cohen, Krishnamoorthy, and Wright 2004 DeZoort, Hermanson, Archambeault, and Reed 2002 and Turley and Zaman 2004).

public companies (e.g., Blue Ribbon Committee 1999 New York Stock Exchange 2004 SarbanesOxley Act 2002), but as noted in the quote above, it is often challenging to provide effective oversight, especially in large, complex organizations. In addition, we appreciate suggestions on the paper and/or interview design from LarryДЄudit committees are increasingly responsible for the quality of ГЇВ¬ВЃnancial reporting and oversight of the audit processes in U.S.

Neal, Terry L.ДЄudit committees are increasingly responsible for the quality of ГЇВ¬ВЃnancial reporting and oversight of the audit processes in U.S. The European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) are observers.The Audit Committee Oversight Process * The Audit Committee Oversight Process *Д«easley, Mark S. Representatives of the national audit authorities of the European Economic Area also participate. The Oversight Advisory Committee of the Council of Europe is one of the guarantees of the independence of DIO. the European Securities and Markets Authority (ESMA).Audit committees play a vital role in the financial reporting systems of public companies through their oversight of financial reporting, including internal controls over financial reporting, and over the external, independent audit process. the national audit oversight bodies of the EU Importance of Audit Committee Oversight of the Independent Auditor.The CEAOB is composed of representatives of Its role is to strengthen EU-wide audit oversight, which is a key objective of the new EU legislation on statutory audit that took effect on 17В JuneВ 2016.Д«y facilitating supervisory convergence, the CEAOB contributes to the effective and consistent application of the new EU audit legislation throughout the EU. The CEAOB is the new framework for co-operation between national audit oversight bodies at EU level.

The audit committee oversight process