NACD Library

Audit Committee Annual Evaluation of the External Auditor

Articles and Whitepapers
Publication Date: October 1, 2012
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The Audit Committee Annual Evaluation of the External Auditor assists audit committees in performing the annual evaluation of the auditor. This evaluation tool is scalable and specifically includes an examination of the auditor’s independence, objectivity, and professional skepticism. It contains sample questions to gauge the quality of services provided, communications, and interaction. It also provides a sample form for obtaining input from company personnel. This tool was developed by a collaboration of organizations dedicated to strengthening audit committee performance and transparency. Members of the coalition working with NACD include: the Center for Audit Quality (CAQ); the Association of Audit Committee Members Inc. (AACMI); Corporate Board Member/NYSE Euronext; the Independent Directors Council (IDC); the Mutual Fund Directors Forum (MFDF); and Tapestry Networks.