Poll focuses on audit committees.In a recent online poll the AICPA AICPA See American Institute of Certified Public Accountants (AICPA). Virtual Grassroots Adj. 1. grassroots - fundamental; "the grassroots factor in making the decision" basic - pertaining to or constituting a base or basis; "a basic fact"; "the basic ingredients"; "basic changes in public opinion occur because of changes in priorities" 2. Panel, an occupationally diverse group of CPAs, commented on the results of audit committees' efforts to better understand financial statements, fight fraud, recruit qualified professionals and respond effectively to other critical challenges. Nearly 270 members of the panel noticed a general enhancement in the role audit committees play in corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. . More than 80% said potential legal liability was the greatest obstacle to CPAs' serving on audit committees, and slightly more than three-quarters cited lack of time to participate as another impediment A disability or obstruction that prevents an individual from entering into a contract. Infancy, for example, is an impediment in making certain contracts. Impediments to marriage include such factors as consanguinity between the parties or an earlier marriage that is still valid. . Additional information on the poll's results is available from Leigh Knopfat 212-596-6132 or lknopf@aicpa.org. |
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