1. Does your organization attach appropriate importance to financial reporting and the audit process?
2. Qualification and level of experience preparers of the financial statements have in your organization?
3. Is the composition of your audit committee sufficiently balanced in skills, experience and industry knowledge to ensure audit quality?
4. Does your audit committee engage in a robust and professional manner with issues identified during the audit?
5. How does your audit committee assess the quality of financial information provided by management?
6. Are your organization's financial reporting deadlines realistically focused to ensure quality financial reporting and audit?
7. Is remuneration of key management personnel based on financial results and how is the potential risk of fraud monitored?
Affluent Financial Services
Ajit Chawla
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