Global Auditor Investor Dialogue - Guidelines for Enhanced Disclosure

The Global Auditor Investor Dialogue - an informal forum comprising the major global auditing networks and leading institutional investors - has published Guidelines for Enhanced Disclosure to Assist Directors, Audit Committees, Shareowners and Investors. In the accompanying press release it is stated:

At a time when the need to restore investor confidence in corporate reporting is as strong as it ever was, an independent working group of leading investors and accounting experts is publishing enhanced disclosure guidelines to assist directors, audit committees, shareowners and investors in fulfilling their responsibilities. The Guidelines, produced by the recently formed Enhanced Disclosure Working Group, address a range of topics which are critical to the exercise of effective oversight of audit, risk and control matters by boards around the world".

The topics addressed by the Guidelines, which concentrate on the audit committee, include: information flows to the audit committee; risk and internal controls; valuation of assets and liabilities; write downs and impairment provisions; securitisation, off-balance sheet and contingent liabilities; internal and external auditors; executive compensation and risk; substance not form; audit committee charter; and audit committee membership.