Identifying the Audit Committee Financial Expert

Sherliza Puat Nelson
University of Malaya, Kuala Lumpur.
Malaysia

Susela Devi
University of Malaya, Kuala Lumpur.
Malaysia

Abstract:
In light with the Section 407 of Sarbanes Oxley Act 2002, the audit committee’s role has become a daunting task to hold on to. More prominent responsibilities were put up before them, and especially for firms to identify their financial experts among their audit committee members. However, in other parts of the world, the mandatory disclosure of naming their financial expert is still far. Even though there were requirements to include among the audit committee members, at least one with an accounting or finance background, and, or with a professional accounting qualification.

Keywords : (1) Audit committee, (2) financial expert, and (3) expertise.