Rules & Expectations: What's An Audit Committee To Do?

Serving as an audit committee member of a corporate board is among the most challenging roles in today’s business environment. Responsibilities have expanded, market expectations have heightened, and stress levels have intensified.

Ever since The Sarbanes-Oxley Act of 2002 was enacted—and related SEC regulations and stock exchange listing standards were codified—audit committee members have been struggling with their elevated roles. Even experienced directors, some of whom initially surmised there would be little change in their corporate behavior, have wrestled with issues of process and scope for their audit committees’ activities.

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