The Blue Ribbon Committee on Improving the Effectiveness of Corporate Audit Committees is known for making recommendations to audit committees concerning:
A) composition of the committee, communication requirements, and oversight responsibilities.
B) qualifications of the committee, timing of their terms, and specific corrections in ICFR systems.
C) SEC filing deadlines, stock exchange requirements, and qualifications of membership.
D) liquidity of the capital markets, types of SEC affiliations and reporting forms, and compensation requirements.

Question

Quizplus · Accepted Answer

The Blue Ribbon Committee on Improving the Effectiveness of Corporate Audit Committees is focused on making recommendations to audit committees regarding their composition, communication requirements, and oversight responsibilities. This includes ensuring that audit committees are made up of qualified individuals, that they are communicating effectively with management and external auditors, and that they are fulfilling their responsibilities for oversight of financial reporting and internal control over financial reporting. The other answer choices are not relevant to the focus and recommendations of this committee.