Tag Archives: audit committee

California Nonprofit Board and Director Standards of Care

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This blog post includes a video about California nonprofit board and director standards of care including discussions about the business judgment rule, the Nonprofit Integrity Act, risk management, audit committees, and board and committee self-evaluation. Below the video you will also find a link to my paper discussing those topics in detail. Please pass this blog post to everyone who would be interested in these materials. Thank you. Dave Tate, Esq. (San Francisco and California).

Click on the following link for the paper discussing California nonprofit board and director standards of care, Nonprofit Board and Director Standard of Care David Tate Esq 05252015

Comments for Audit Committees about the PCAOB May 2015, Audit Committee Dialogue

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This blog post includes a short video discussing the Public Company Accounting Oversight Board’s May 2015, Audit Committee Dialogue, and below the video you will find a link to the Audit Committee Dialogue. Please pass this blog post to everyone would be interested in these materials. Thank you. Dave Tate, Esq. (San Francisco and California).

Click on the following link for the PCAOB’s May 2015, Audit Committee Dialogue, Click Here.

Audit Committee Self-Evaluation Form For Your Use

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Audit committee self-evaluation form for your use, click on the following: Audit Committee Self-Evaluation Form David Tate Esq 10302014
Dave Tate, Esq. (San Francisco/California)

Important new IFAC paper on risk management

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With help from Grant Purdy, IFAC has published an excellent Thought Paper on risk management. From Bolt-on to Built-in: Managing Risk as an Integral Part of Managing an Organization. This is one of…

Click on the following link for the discussion: normanmarks.wordpress.com

Tate comment: currently I’m just passing this along. Evaluation and comments will follow. Norman certainly indicates that this is an important paper by IFAC. How, if at all, might it impact, add to, or create a standard of care or process for risk management including auditor evaluation and/or audit committee or risk committee oversight? More to follow.  Dave Tate, Esq. (San Francisco / California)

Lessons Learned from the Transition to COSO 2013

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Protiviti has shared with us a useful Top 10 Lessons Learned from Implementing COSO 2013. I especially like this section: It is presumed that everyone understands that a top-down, risk-based approa…

Click on the following for the discussion: normanmarks.wordpress.com

A good COSO 2013 discussion from Norman and Protiviti.

Dave Tate, Esq. (San Francisco/California)

My other blog: trust, estate, conservatorship and elder abuse litigation, http://californiaestatetrust.com

Addressing Cybersecurity Oversight in Audit Committee Charters | JD Supra

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Cybersecurity continues to emerge as a key risk that is attracting the attention of regulators and boards of directors. Companies take different approaches regarding how the board…

Click on the following link for the discussion: www.jdsupra.com

Click on the link, which contains a short JD Supra update from Wilmer Hale discussing KPMG’s 2015 Global Audit Committee Survey. The survey is long and contains useful information (over 80 pages). I am making this post because of the discussion about audit committees being given responsibility for cybersecurity oversight. That’s fine, but I suggest that the overall board still must be actively involved in this oversight, you need to be sure that the audit committee members are qualified and have the time to take on this area of oversight, and the audit committee members and other stakeholders should have a good understanding about just what the oversight involves and how the committee should go about that oversight.

As we all know, cybersecurity is an important area of oversight that can significantly effect all businesses. Enjoy.

Dave Tate, Esq. (San Francisco/California)

My other blog: trust, estate, conservatorship and elder abuse litigation, http://californiaestatetrust.com

SSARSs Clarity Project

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The standard eliminates the need for the accountant to determine whether they?ve prepared financial statements by drawing a clear line between preparation and compilation.

Click on the following for the article: www.cpa2biz.com

Why is this important?  Well . . . if you are an accountant who performs review and compilation services, it should be important to you. And if you are someone who depends on information and representations provided in reviews or compilations, it should be important to you, if you care to know whether a compilation or review provides you with any useful information. Speaking of the subject, I never hear anyone discussing whether a quarterly review for a public company provides any useful information. I believe that at least in theory they do, but, if not, then why continue with the expense?  Dave Tate, Esq. (San Francisco)

My other blog: trust, estate, conservatorship and elder abuse litigation and administrations, http://californiaestatetrust.com

Pressure Intense on Internal Audit – the Audit Committee and Auditors Should Ask

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The following link is to a troubling news release from the Institute of Internal Auditors about pressure that some internal auditors feel or experience in the performance of their tasks. That type of situation is troubling in and by itself. However, with the ramp-up of whistleblower reporting that type of situation also more likely carries with it the potential for the company’s exposure to liability. These issues also reflect upon tone-at-the-top, governance and internal controls. The independent outside auditor and the audit committee should ask the chief audit executive (CAE) about these issues and the related atmosphere at the company, if for no other reason than to spot and resolve any potential issues. The following is the link to the IIA news release:

Click to access Politics-of-Internal-Audit-news-release.pdf

Dave Tate, Esq. (San Francisco and California)

Audit Committee Member – What Would Keep Me Up At Night – January 2015

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On the 2015 Audit Committee Agenda

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10 things that audit committees should keep in mind as they consider and carry out their 2015 agendas.

Click on the following link for the discussion: www.kpmg-institutes.com

Good broad topic areas to consider, although I prefer the following discussion materials that I have written as they are more specific – click on the following link – Audit Committee Self-Evaluation Form David Tate Esq 10302014.

Dave Tate, Esq. (San Francisco / California).