Audit Committee Consulting
In an era of accounting fraud, audit failure, and manipulation
of earnings, reassessment of previously reported financial
statements to the SEC has grown dramatically in the past several
years. The outcome of these events has resulted in very low
public confidence in financial reporting, and the stock market
is only one area in which this lapse of integrity has manifested
itself.
Each listed public company must have an audit committee that
meets the requirements of both Sarbanes-Oxley and the exchange
on which the company's stock is listed. Audit committees of
a firm's board of directors are legally responsible for overseeing
the financial reporting process. This is crucial as board
members can be at personal financial risk if the legally defined
procedures are not followed.
Utilizing decades of experience, Deltennium will highlight
your company's commitment and adherence to proper audit guidelines,
and monitor the integrity of your company’s financial
statements, financial reporting process, and systems of internal
controls regarding financing and accounting. We accomplish
these guidelines by advising company audit committee members
of their responsibilities, and assisting the audit committee
with overseeing the independent auditors. We will provide
protection by monitoring any possible litigation and financial
risk exposure as well.
In addition, Deltennium assists board members in performing
their fiduciary roles by reinforcing the audit committee’s
probity regarding compliance with legal and regulatory requirements.
Using qualified, independent consultants to oversee the audit
committee structure and process, and retaining self-reliant
professionals to approach these issues, establishes a board's
commitment to meeting necessary obligations.
This process also involves drafting the report that SEC rules
require be included in the company’s annual proxy statement,
thereby assuring the highest standards of integrity are met
by providing a viable means of communication among the independent
public accountants, management, and the Board of Directors.
Deltennium Chairman Gerry Czarnecki as well as all of the
Audit Commitee consultants with whom we work are certified
by International Shareholders Services, the leading Board
Governance solutions provider and advocacy organization in
the country.
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