Assignment – Week 7
Class: Auditing
Related to: Audit evidence (Ch 7)
Becher is an independent construction company, dealing with large scale contracts throughout the UK and with some international interest in Europe, particularly in Spain. Becher have recently established an Audit Committee, the members of which are very concerned about meeting corporate governance ‘best practice’, particularly since they are currently looking at the possibility of obtaining a stock exchange listing. You are an internal auditor with the company and have been asked to conduct a review of how well the company is meeting relevant corporate governance requirements.
You are required to prepare a report that addresses the following:
1. What is meant by ‘corporate governance’ and why is it important that companies should comply with relevant corporate governance requirements?
2. What are the key issues for Becher to address to achieve effective corporate governance?
3. What is the role of internal audit in achieving corporate governance compliance?
4. What should the role of the Audit Committee be in relation to corporate governance?
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