| HBS Case Collection
The Role of the Audit Committee in Risk Oversight
An audit committee chair considers how he can help his committee become more effective given the increasing regulatory demands on audit committees. He also wrestles with the lack of specificity in audit committee duties and whether his committee should take on additional responsibilities. In particular, he considers the growing concern over risk oversight and wonders what kinds of risks the audit committee should consider and whether they should be the sole repository for risk management. This case includes a historical overview of the beginnings and evolution of audit committees, and the laws and regulations that have affected their role over time.
Keywords: Accounting Audits;
Governing Rules, Regulations, and Reforms;
Governing and Advisory Boards;
Laws and Statutes;