Ethics and Compliance Oversight Function of the Audit Committee
Executive Summary
It takes only a few unfavorable incidents (the 2001 Enron debacle and the 2007–2009 global financial crisis) to significantly erode public trust and investor confidence in public financial information and financial markets. It requires an enormous effort by policymakers, regulators, professional organizations, and public companies to restore embattled public trust and investor confidence. The wave of financial scandals in the early 2000s, the 2007–2009 global financial crisis, and subsequent regulatory responses have galvanized considerable ethics and compliance oversight function of the audit committee as explained in this chapter. The audit committee ...
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