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June 4 — Ernst & Young's Center for Board Matters June 3 issued a report laying out three steps that audit committees may take to establish effective whistle-blower hotlines.
According to E&Y, audit committees should (1) work with management to publicize the hotlines to employees, (2) determine the appropriate review process for claims and (3) monitor claims data to discern trends or red flags.
The report, “Whistleblower Hotlines and the Role of the Audit Committee,” is available at http://www.ey.com/GL/en/Issues/Governance-and-reporting/EY-whistleblower-hotlines-and-the-role-of-the-audit-committee.
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