COMPLAINCE WITH RULES AND REGULATIONS
The duties performed by the AC are essential in evaluating effectiveness. The Treadway Commission Report requested for a written charter for every AC outlining their duties and responsibilities. It is expected that detailed charters should be prepared so as to assist ACs in carrying out their duties effectively. The Treadway Commission Report stated that such a charter would ensure that committee members were aware of their duties and responsibilities and would serve as a basis for evaluating the effectiveness of the oversight responsibilities carried out by the AC.
The BRC (1999) noted that the AC charter “acts as a disciplinary measure on the committee” and suggested that an effective AC should “memorialize
The duties performed by the AC are essential in evaluating effectiveness. The Treadway Commission Report requested for a written charter for every AC outlining their duties and responsibilities. It is expected that detailed charters should be prepared so as to assist ACs in carrying out their duties effectively. The Treadway Commission Report stated that such a charter would ensure that committee members were aware of their duties and responsibilities and would serve as a basis for evaluating the effectiveness of the oversight responsibilities carried out by the AC.
The BRC (1999) noted that the AC charter “acts as a disciplinary measure on the committee” and suggested that an effective AC should “memorialize