TARI in partnership with PwC is in process of compiling The Audit Committee Handbook, a book which aims to provide key insights into the functioning of Audit Committee in companies. The Companies Act 2013 and the Revised Clause 49 of the Listing Agreement has significantly expanded the functions and responsibilities of Audit Committees. In view of the expanded scope, The Audit Committee Handbook will provide insights into the functioning as well as effective discharge of its functions, through detailed analysis of legal requirements and best practices followed worldwide and in India. The book shall discuss the manner in which Audit Committee members are expected to discharge their responsibilities and consequent liabilities in case of failing to act proper. The Handbook follows a practical approach and includes case studies and industry references for readers to get a practical orientation of the functioning of an Audit Committee. The Handbook is expected to serve as a guide for not simply Audit Committee members but also for those in the management including other directors, to help them understand the functioning of Audit Committee.
Watch this space for the book’s release date.
Organizations lose 5% of their revenues to fraud each year with potential global fraud loss projected at more than $3.5 trillion!
Association of Certified Fraud Examiners 2012 Report to the Nations