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From The AICPA Audit Committee Toolkit.
Copyright © 2004 by the American Institute of Certified Public Accountants,
Inc., New York, New York.
| Purpose of This Tool. Audit committees can take advantage
of the Internet and find a wealth of resources to assist them in discharging
their responsibilities. This Tool provides an overview of organizations
and Web sites that contain topical resources for audit committee members
to investigate. |
Below is a sampling of organizations and Web sites that can assist audit committee
members in learning more about government accountability and their roles, responsibilities,
and functions.
American Institute of Certified Public Accountants www.aicpa.org
The American Institute of Certified Public Accountants (AICPA) is the national
professional association for all certified public accountants. This includes
CPAs working as independent auditors, accountants, or consultants in public
practice, business and industry (CFOs, controllers, internal auditors, etc.),
government, not-for-profit organization, and the academic community.
The AICPA has developed this Government Audit Committee Toolkit to aid audit
committee members in performing their functions. In addition, the AICPA produces
publications on accounting and auditing, financial reporting, tax, technology,
and many other relevant topics. Some additional online resources useful to
audit committees include:
Association of Certified Fraud Examiners www.cfenet.com
The Association of Certified Fraud Examiners (ACFE) is a global professional
organization dedicated to fighting fraud and white-collar crime. With chapters
around the globe, the ACFE is networked to respond to the needs of antifraud
professionals everywhere. They offer guidance on fraud prevention, detection,
and investigation, as well as internal controls.
Association of Government Accountants www.agacgfm.org
The Association of Government Accountants (AGA) is an educational organization
dedicated to enhancing public financial management. AGA serves the professional
interests of financial managers, from local, state and federal governments,
as well as public accounting firms, responsible for effectively using billions
of dollars and other monetary resources every day. AGA conducts independent
research and analysis of all aspects of government financial management,
for the purpose of advocating the improvement in the quality and effectiveness
of government fiscal administration.
Committee of Sponsoring Organizations of the Treadway Commission www.coso.org
Committee of Sponsoring Organizations of the Treadway Commission (COSO)
is a voluntary private-sector organization dedicated to improving
the quality of financial reporting through business ethics, effective internal
controls,
and corporate governance. Originally formed in 1985 to sponsor the
National Commission on Fraudulent Financial Reporting, COSO has released
numerous
influential publications, including Internal Control—Integrated
Framework.
Ethics Officers Association www.eoa.org
The Ethics Officers Association (EOA) is the professional association exclusively
for managers of ethics, compliance, and business conduct programs. The
EOA provides ethics officers with training and a variety of conferences
and meetings
for exchanging best practices in a frank, candid manner.
Ethics Resources Center www.ethics.org
The Ethics Resources Center (ERC) is a nonprofit, nonpartisan educational
organization whose vision is a world in which individuals and organizations
act with integrity.
Their mission is to strengthen ethical leadership worldwide by providing
leading-edge expertise and services through research, education and partnerships.
Especially useful are their resources on business and organizational ethics.
Government Finance Officers Association www.gfoa.org
The Government Finance Officers Association (GFOA) serves the state, provincial,
and local finance officers in the United States and Canada and is dedicated
to the sound management of government financial resources. GFOA administers
a broad range of services and programs in the major functional areas of
government financial management, including accounting, auditing, and financial
reporting;
budgeting and financial planning; capital finance and debt administration;
cash management and investments; and financial management. Guidance, publications,
and programs are available from the GFOA Web site.
Institute of Internal Auditors (IIA) www.theiia.org
The Institute of Internal Auditors (IIA) is a dynamic international organization
that meets the needs of a worldwide body of internal auditors. IIA focuses
on issues in internal auditing, governance and internal control, information
technology (IT) audit, education, and security worldwide. The Institute
provides internal audit practitioners, executive management, boards of
directors and
audit committees with standards, guidance, best practices, training, research,
and technological guidance for the profession.
Institute of Management Accountants (IMA) www.imanet.org
The IMA is a professional organization devoted to management accounting and
financial management. Its goals are to help members develop both personally
and professionally, by means of education, certification, and association
with other business professionals. A respected leader within the global
financial community, the IMA influences the concepts and ethical practices
in management
accounting and financial management. Its ethical standards provide guidance
to practitioners for maintaining the highest levels of ethical conduct.
IT Governance Institute www.itgi.org
Established by the Information Systems Audit and Control Association and
Foundation (ISACA) in 1998, the IT Governance Institute (ITGI) exists to
assist enterprise
leaders in understanding and guiding the role of IT in their organizations.
ITGI helps senior executives to ensure that IT goals align with those of
the business, deliver value, and perform efficiently, while IT resources
are properly allocated and its risks mitigated. Through original research,
symposia, and electronic resources, ITGI helps ensure that boards and executive
management have the tools and information they effectively manage the IT
function.
National Association of College and University Business Officers www.nacubo.org
The National Association of College and University Business Officers (NACUBO)
represents college and university administrative and financial officers
through a collaboration of knowledge and professional development, advocacy,
and
community to establish excellence in higher education business and financial
management. NACUBO’s web site includes tools, publications, and guidance
for college and university financial management, including guidance on how
colleges and universities might implement relevant portions of the Sarbanes-Oxley
Act as a best practice.
National Association of State Auditors, Comptrollers and Treasurers www.nasact.org
The National Association of State Auditors, Comptrollers and Treasurers (NASACT)
is an organization for state officials who work in the financial management
of state government. NASACT assists state leaders enhance and promote effective
and efficient management of government resources. NASACT’s web site provides
information regarding, among other things, efforts to improve financial management
practices at all levels of government, shares expertise and ideas that promote
effective financial management, and develops and promotes an exchange of industry
best practices.
U.S. Government Accountability Office www.gao.gov
The U.S. Government Accountability Office (GAO) is an independent, nonpartisan
agency that works for Congress. With its core values of accountability,
integrity, and reliability, ultimately, GAO works to ensure that government
is accountable
to the American people. GAO issues Government Auditing Standards (also
known as the Yellow Book), which contains standards for audits of government
organizations,
programs, activities, and functions. These standards, often referred to
as generally accepted government auditing standards (GAGAS), are to be
followed
by public accounting firms and audit organizations that audit governments
and not-for-profit organizations when required by law, regulation, agreement,
contract,
or policy.
U.S. Office of Management and Budget www.whitehouse.gov/omb/index.html
The U.S. Office of Management and Budget’s (OMB) mission is to assist
the President in overseeing the preparation of the federal budget; to supervise
its administration in Executive Branch agencies; and coordinate the Administration's
procurement, financial management, information, and regulatory policies. In
each of these areas, OMB's role is to help improve administrative management
and, therefore, has an impact on all levels of government. State, local, and
special-purpose governments are required to follow OMB’s financial management
rules and guidance if they receive federal program monies either directly or
indirectly. The OMB web site includes information about these rules and guidance
for those charged with responsibility for a government’s compliance with
financial management laws and regulations.
The Association of Local Government Auditors www.governmentauditors.org
Among the primary objectives of The Association of Local Government Auditors is improving the quality of auditing in local
government, providing a forum for the discussion of issues concerning auditing
in local government, and upholding the highest standards of professional
ethics. NALGA provides information, guidance, and opportunities for local
government
auditors about audit standards, related training, peer reviews, and other
audit issues.
Resources for Corporate Governance and Publicly Traded Company Audit Committees
Many organizations provide information, tools, and publications about corporate
governance and audit committees for publicly traded companies that must follow
the requirements of the Sarbanes Oxley Act. Although government organizations
are not subject to the requirements of the Sarbanes Oxley Act, the following
Web sites may provide government audit committees with additional information
that could be applied in their environments as best practices.
American Society of Corporate Secretaries www.acsc.org
The American Society of Corporate Secretaries (ASCS) acts as a positive force
for enlightened corporate governance whose key mission is to promote excellence
in corporate governance. The members of the ASCS address issues of public
disclosure under the securities laws and matters affecting corporate governance,
including
the structure and meetings of the board of directors and its committees,
and the proxy process and the annual meeting of shareholders and shareholder
relations,
particularly with large institutional owners.
Business Roundtable www.brtable.org
The Business Roundtable (BRT) is an association of chief executive officers
(CEOs) of leading U.S. corporations. The BRT is committed to advocating
public policies that foster vigorous economic growth, a dynamic global
economy,
and a well-trained and productive U.S. workforce essential for future competitiveness.
The BRT’s Corporate Governance Task Force focuses on issues related
to corporate governance and responsibilities, including accounting standards
Conference Board www.conference-board.com
The Conference Board is a global, independent membership organization that
creates and disseminates knowledge about management and the marketplace
to help businesses strengthen their performance and better serve society.
They
conduct research, convene conferences, make forecasts, assess trends, publish
information and analysis, and bring executives together to learn from one
another. The Conference Board's Blue-Ribbon Commission on Public Trust
and Private Enterprise has proposed reforms to strengthen corporate compensation
practices and help restore trust in America's corporations and capital
markets.
Corporate Board Member www.boardmember.com
Corporate Board Member magazine’s Web site, Boardmember.com, serves as
a central resource for officers and directors of publicly traded corporations,
top private companies, and Global 1000 firms. The Resource Center offers the
full-text of Corporate Board Member magazine, as well as additional articles,
webcasts, and interviews. Topics include corporate governance, strategic board
trends and issues, executive and director compensation, audit committees, risk
management, international and technology trends, investor relations, board
education, and other critical topics facing today's directors and officers
of publicly traded companies. They also offer conferences, director training
programs, roundtables, an extensive database, and timely research.
Financial Executives International www.fei.org
Financial Executives International (FEI) is a professional association for
senior level financial executives including chief financial officers, vice
presidents of finance, controllers, treasurers, and tax executives. FEI
provides peer networking opportunities, emerging issues alerts, and personal
and professional
development and advocacy services.
Harvard Business School’s Corporate Governance, Leadership & Values www.cglv.hbs.edu
Harvard Business School’s Corporate Governance, Leadership & Values
Web site is a comprehensive overview of research, educational programs, and
other activities at Harvard Business School aimed at providing new frameworks
for thought and practice in the interrelated areas of corporate governance,
leadership, and values. It includes links to the ongoing workshop series; background
papers; research programs, such as the corporate governance initiative; executive
education programs; viewpoints on key issues published in the national press;
faculty comments in the media; and an online forum for exchanging views on
emerging issues.
National Association of Corporate Directors (NACD) www.nacdonline.org
Founded in 1977, the NACD is the premier educational, publishing, and consulting
organization in board leadership and the only membership association for
boards, directors, director-candidates, and board advisers. The NACD promotes
high professional board standards, creates forums for peer interaction,
enhances director effectiveness, asserts the policy interests of directors,
conducts
research, and educates boards and directors concerning traditional and
cutting-edge issues.
New York Stock Exchange www.nyse.com
The New York Stock Exchange (NYSE) is a not-for-profit corporation that provides
a self-regulated marketplace for the trading of financial instruments.
Its goal is to add value to the capital-raising and asset-management process
by providing the highest quality and most cost-effective trading environment.
They work to promote confidence in and understanding of the financial trading
process and serve as a forum for the discussion of relevant national and
international policy issues. They have taken a leadership role in corporate
governance issues through their participation in the Blue Ribbon Committee
on Improving the Effectiveness of Corporate Audit Committees and more recently
in their formation of the NYSE Corporate Responsibility and Listing Standards
Committee.
The Corporate Library www.thecorporatelibrary.com
The Corporate Library serves as a central repository for research, study,
and critical thinking about the nature of the modern global corporation,
with
a special focus on corporate governance and the relationship between company
management, boards, and shareholders. Most general content on the site
is open to visitors at no cost; advanced research relating to specific
companies
and certain other advanced features are restricted to subscribers only.
From The
AICPA Audit Committee Toolkit. Copyright ©
2004 by the American Institute of Certified Public Accountants, Inc., New
York, New York.
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