Text Chapter 362 Audit and Finance Committee

Hearing these words, Zhou Jiexi's eyes lighted up. It seemed that Jobs really listened to his words, and it was really easy for him to do this in the future.

"However, sometimes this is not a good job!" A partner brought by Harvey said to Zhou Jiexi.

"Oh." Zhou Jiexi looked at Harvey and this person suspiciously. He obviously thinks this guy is a small character, he almost doesn't even remember his name. Like in the previous life, when Zhou Jiexi went out to work, some bosses basically didn't remember your name. Just call it 'Hey, or that person, and it's you, that. . . ’ Wait for some dragons in dragons.

"It's just some unexpected circumstances, but there are quite a few people staring at Apple's complex relationship, so you don't have to worry about it at all!" Harvey said comfortingly.

Zhou Jiexi frowned slightly, feeling a little worried. "Tell me about this, I don't know much about it!"

"Okay!" Harvey shrugged and followed his footsteps. "Ken, come and explain to Boss!" Said to the partner next to him, a middle-aged man who was a little chubby with a small belly, and a little short on the front of his head.

Ken nodded, and said to Jessie Zhou: "According to the definition of the US Sarbanes-Oxley Act, the audit committee refers to a professional committee in the board of directors, mainly composed of non-executive directors. A committee (or an equivalent group) initiated by the board of directors of a securities company and composed of members of the board of directors, whose purpose is to supervise the company's accounting, financial reporting, and audit of the company's accounting statements!"

"Yeah!" Zhou Jiexi nodded to show that he understood!

Ken then went on to talk: "Its emergence is actually a response to the crime and the improvement of the company's internal loopholes! The emergence and development of the concept of the audit committee can be regarded as a response to what happened in the United States and Canada at that time. This is reflected in several high-profile fraud and corporate bankruptcy cases."

"Fraud cases? Aren't there monitors in the company?" Zhou Jiexi asked with some doubts.

"Ken is talking about the time when it was not perfect!" Zhao Jie said. "However, even if it is perfected now, there are still many such incidents. It's just that the method of doing it is more perfect and cunning, making it harder for others to notice."

His speech was suddenly interrupted, and Ken, a little uncomfortable, looked at Harvey with his eyes. There was meaning in his eyes: "Didn't you say that the boss is very nice? Now he likes to interrupt others so much!"

Harvey didn't answer, but turned his head away.

"Okay!" Zhou Jiexi nodded and didn't look at Zhao Jie, but turned to look at Ken, indicating that he could continue talking.

Harvey expressed helplessness at the reaction of the two, and shrugged his shoulders at Ken in a funny way, "It's okay, buddy, that's how they are! Go ahead, our boss is always a curious baby. But he Can quickly absorb a lot of things, and use them directly when they are useful! So you don't have to worry about him forgetting what you said!"

Ken collected his energy, nodded and continued: "Since 1978, the New York Stock Exchange has required that all listed companies have an audit committee composed entirely of independent directors."

"In December 1992, the UK's Canterbury Council signed a report on corporate governance, which recommended that all UK listed companies should establish an audit committee. Shortly after that, the London Stock Exchange will set up an audit committee to incorporate Its "Code of Best Practices".

"At that time, in 1998, Xiangjiang of China also learned this system from London, and also incorporated the audit committee into its best practice code, which means that starting from January 1, 1999, all listed Companies are required to include a statement in both the interim report and the annual report."

"It's used to explain that the company has complied with the code on the audit committee, or to explain the reasons for not following the code." Ken said to Jessie Zhou.

"Oh, I kind of understand what I'm talking about!" Zhou Jiexi nodded, as if he really understood it, but in fact, only he himself knows whether he understands it or not. "But I'm not the company's internal audit and finance committee. Although it sounds a bit clear, what exactly do I do here?" Zhou Jiexi continued questioningly.

It would be that Harvey was going to say this in person, so he motioned to Ken, cleared his throat and said: "The board of directors is set up to be responsible for the internal accounting controls, financial statements and other financial matters of the company. Implement supervision!"

"The audit committee is a special working body established by the board of directors, which is mainly responsible for the communication, supervision and verification of the company's internal and external audit. The audit committee is composed of three directors, two of whom are independent non-executive directors of the company, and the other directors are executive directors. And you are one of the non-executive directors!"

"Well, I know that! I don't work for Apple, just as a shareholder representative or something?"

"Yes boss!" Harvey nodded, and then he started to say to Zhou Jiexi: "Your current responsibilities in the board of directors are actually only a few main ones. One is'review and supervision of external Audit institutions, are they independent and objective and the audit procedures are effective!'

The second is to formulate and implement policies for the non-audit services provided by external audit institutions! The third is to review the company's financial information and its disclosure. The fourth is to supervise the company's internal audit system and its implementation. Fifth, it is necessary to be responsible for the communication between internal audit and external audit! Another is to review the company's internal control system and audit major related transactions.

"The main purpose of the audit committee is to supervise the provision of effective financial reporting, and to control, identify and manage the risks that many factors may bring to the company's financial condition."

"The risks that the company faces involve competition, environment, finance, law, operation, regulation, strategy and technology. The audit committee itself cannot supervise all these risks, and all parties (including other committees of the board of directors) should work together. In this On the one hand, I have to say, Apple’s Steve Jobs is really good!” Harvey seems to be a fan of Joe’s gang, but it’s about his business, not innovation.

"And as a body of the board of directors, the audit committee mainly makes the board of directors, senior management and internal and external auditors pay attention to the importance of effective financial reporting and risk management (identification and control of key risks)."

"Of course, it also has a job of supervision. If the certified public accountants find major problems during the audit process, they can directly communicate with you, the audit committee. This is also conducive to the timely resolution of major issues and the guarantee of registration. Independence of accountants."

"When the audit opinion of the certified public accountant is inconsistent or conflicts with the opinion of the management authority, and its independence is threatened, communicating with the audit committee and seeking protection can effectively play the independent assurance role of the certified public accountant."

"The audit committee is also responsible for communicating with the internal and external audit departments and integrating the audit resources of internal and external audit. In this way, it can independently, impartially and effectively evaluate the effectiveness of the company's internal control and the reliability of financial reports, and report to the board of directors and shareholders Conference report."

"In this way, it was established to increase the quality and reliability of the financial information used by the board of directors and the financial statements issued by the company." Harvey then said to Zhou Jiexi.

After hearing so much from a few people, Zhou Jiexi also straightened his mind. That is, this matter is simple to say, but sometimes it is not easy. But within Apple, it won't be too complicated. Even if it is really complicated, but when the sky falls and there is a taller person standing in front, sometimes it really isn't his turn to take care of it.

"As you said, there are really not many holidays and things for this position. They are the financial director, the head of internal audit, and the representative of external audit should usually attend the meeting."

"And other board members can also decide whether to attend. At that time, in any case, the committee and the external auditors should meet at least once a year in the absence of the executive director to discuss some little secrets that few people know."

"Let's keep a few secrets. I don't know how many spies there are. If he thinks something is necessary, he will tell Jobs. Now he has traveled back and intervened in Apple. If you don't say it, who knows what someone told Jobs at this time, but he didn't say it, the consequences would be unimaginable!" Zhou Jiexi couldn't help thinking secretly.

A few people chatted for a while, and they had already walked in front of the building of Apple's headquarters. Hanging up the identifying things, Zhou Jiexi and a few others walked in simply because of their simplicity. The front desk of the company also saw Zhou Jiexi, got up quickly and greeted him.

The company has issued an announcement, and they have recorded photos of Zhou Jiexi and several board members. It is absolutely impossible for the directors to come, but things that they don't know come out.

"Hello, Mr. Zhou!" the girl said to Zhou Jiexi sweetly. She was a blonde girl, and Zhou Jiexi was furious when she saw it. She was indeed the front desk of a large international company. This taste and appearance Just an unusual character. "

"Come this way, please. It's almost time for the meeting to start. Almost all the high-level executives in the company have arrived. They are already sitting in the meeting room!" Go ahead and lead the way.