Professor Elam

Monday Nov 17 201

Here is an article on How to build an Effectie Audit Comittee.

You will learn more about this in the audit class. SARBOX placed a lot more emphasis on the independence of the audit committee from management as well as requiring that all members possess financial sophistication.

Also note this article is from the CGMA magazine of the AICPA. CGMA stands for

Certified Global Management Accountant.

THis is clearly a challenge to the Certified Management Accountant designation which is a totally separate group from the AICPA. I suspect the AICPA is beginning ot recognize that it is really one big tent of designations. AICPA is trying to bring or create more designation within its own tent.