The Audit Committee's Role in Investigations

Inside America's Boardrooms
Investigations into allegations of fraud, regulatory infractions, and internal whistle blower complaints can be common tasks charged to audit committees. Typically, these duties are part of the board's audit committee charter and can be quite challenging and time consuming. Each circumstance requires a review, and those deemed to have substance require that an investigation begin.

In this episode, PwC's Paula Loop (Leader of PwC's Center for Board Governance & Investor Resource Institute) outlines the factors audit committees should consider when analyzing allegations. She then discusses the framework for structuring each investigation. Outside third party support is often required. The experience of all resources, both inside and outside the company, is highly critical if regulators are involved.
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