Report of the NACD Blue Ribbon Commission on the Audit Committee

In brief: In light of the audit committee's growing role and responsibilities in corporate governance, this report offers ten principles to guide audit committees in their oversight of the financial reporting process and covers the other critical areas of oversight—risk management and internal and external auditors. This report also provides sample audit committee documents and research from other thought leaders in corporate governance.

This resource can help your board:

  • Determine audit committee composition and leadership
  • Set the audit committee agenda and conduct meetings effectively
  • Review audit committee responsibilities and requirements as set by the Securities and Exchange Commission (SEC) and the stock exchanges

Most relevant audiences: audit committee members