The Institute of Corporate Directors and KPMG's Audit Committee Institute recently released their 2nd annual survey of audit committee members. The survey explored such questions as how effective is your audit committee (a majority said it is effective) and what are the major issues facing your coimmittee. The list of major issues was topped by risk Management and Internal Control, followed by Accounting judgements and issues. It appears the emphasis on internal controls over the past few years is continuing. You can download the report at:
http://www.icd.ca/Docs/AC_Survey_07_Web.pdf