20 Questions Directors and Audit Committees Should Ask about IFRS Conversions

20 questions20 Questions Directors and Audit Committees Should Ask about IFRS Conversions RevisedWritten by rafik greiss, FCa, CP a (illinois) Simon Sharp, CaHow to use this publicationeach “20 Questions” briefing is designed to be a concise, easy-to-read introduction to an issue of importance to directors. t he question format reflects the oversight role of directors which includes asking management — and themselves — tough questions.in some cases, boards and audit committees may not want to ask the questions directly and prefer to ask the Chief a udit executive or management to include the topics or answers to the questions in the annual audit plan or other presentations to the Committee. t he questions are not intended to be a precise checklist, but rather a way to provide insight and stimulate discussion on important topics.t he comments that accompany the questions provide directors with a basis for critically assessing the answers they get and digging deeper as necessary. t he comments summarize current thinking on the issues and the practices of leading organizations. a lthough the questions apply to most medium to large organizations, the answers will vary according to the size, complexity and sophistication of each individual organization.Written by rafik greiss, FCa, CP a (illinois) Canadian iFrS l eader, ernst & youngSimon Sharp, Ca Senior Manager, ernst & youngProjeCt direCtion gigi dawe Principal, risk ...