204894 Audit Co timetable WEB

Audit Committee InstituteFinancial reporting deadlinesThe FRC appointed group chaired by Sir Robert Smith recently published AuditCommittees Combined Code Guidance – A report and proposed guidance (SmithReport). As a result, audit committees are now focusing more on their roles and responsibilities, including the effectiveness and efficiency of their auditcommittee meetings.Complementing the Audit Committee Institute’s guide to audit committee meeting agenda, thefollowing sets out the financial reporting deadlines for both public and private UK companies.For public companies, differentiation is made between the London Stock Exchange (LSE)official list, AIM, OFEX and unlisted companies.Audit committee meetings are generally timed to meet the financial reporting and audit cycles.The extent of the external reporting the company is required to provide to shareholders willdetermine the number of audit committee meetings (e.g. six months reporting or reporting on aquarterly basis). In addition, the number of meetings and their duration should also varydepending on the range and complexity of the issues under consideration and most auditcommittee chairmen will wish to call more frequent meetings.Companies that are also listed in the US will, in addition, be required to adhere to SEC filingdeadlines – these have not been included in the table.©2003 KPMG LLP , a UK limited liability partnership and the UK member firm of KPMG International, a Swiss nonoperating ...