The Conference Board uses cookies to improve our website, enhance your experience, and deliver relevant messages and offers about our products. Detailed information on the use of cookies on this site is provided in our cookie policy. For more information on how The Conference Board collects and uses personal data, please visit our privacy policy. By continuing to use this Site or by clicking "OK", you consent to the use of cookies. 
The New Role of Audit Committees

The audit committee has taken on greater responsibility, and the authority of the board, shareholders, and management has conversely diminished. Sarbanes-Oxley requires all members of the committee be independent. Auditors must disclose their communications, policies, and practices with management to the audit committee. Post-Sarbanes-Oxley, audit committees must also establish procedures for handling complaints including options for confidentiality.

The NYSE and NASDAQ also have delineated new duties for the audit committee, with additional responsibilities to the Sarbanes-Oxley requirements to be outlined in a charter.






Support Our Work

Support our nonpartisan, nonprofit research and insights that help leaders address societal challenges.