Provide effective oversight through election of board members, approval of major initiatives such as buying or selling stock, annual reports on management compensation, from the board
Board of Directors
The major representative of stockholders ensure that the organization is run according to the organization's charter and that there is proper accountability
Non-ExecutiveorIndependentdirector
The same as the broad role of the entire board of directors, to understand the organization, its business, its operating environment and its financial position
Management
Manage the organization effectively, provide accurate and timely reports to shareholders and other stakeholders
Audit Committees of the Board of Directors
Provide oversight of the internal and external audit function and the process of preparing the annual financial statements as well public reports on internal control
Board of Accountancy
Set accounting and auditing standards dictating underlying financial reporting and auditing concepts, set the expectations of audit quality and accounting quality
Securities and Exchange Commission
Ensure the accuracy, timeliness and fairness of public reporting of financial and other information for public companies
External Auditor
Perform audits of company financial statements to ensure that the statements are free of material misstatements including misstatements that may be due to fraud
Internal Auditor
Perform audits of companies for compliance with company policies and laws, audits to evaluate the efficiency of operations, and periodic evaluation and tests of controls
