Most Audit Committees Still Lack Accountants


Most Audit Committees Still Lack Accountants

T he number of accountants on audit committees more than doubled from 2002 to 2005, according to Huron Consulting Group’s 2006 Audit Committee Research Report ( www.huronconsultinggroup.com ), which sampled the biographies of committee members at 178 public companies from Nasdaq 100 and Fortune 100 listings.

However, more than 60% of the companies still did not have an accountant on their audit committee.

While all companies reported having a committee member with financial expertise, only 23% of those individuals had accounting backgrounds.

TOP 10

SPONSORED REPORT

Keeping client information safe in an age of scams and security threats

A look at the Dirty Dozen tax scams and ways to protect taxpayer information.

TECHNOLOGY Q&A

How to create maps in Excel 2016

Microsoft Excel 2016 has two new mapping capabilities. J. Carlton Collins, CPA, demonstrates how to make masterful 2D and 3D maps in Excel 2016.

QUIZ

News quiz: IRS enforcement, a hot job, and audit value

The IRS’s 2016 Data Book, a “hot job” of particular interest at this time of year, and insight into how executive and audit committees view the insights from financial statement audits received attention recently. See how much you know with this short quiz.