Internal Investigations and the Role of the Audit Committee

Gray Plant Mooty
500 IDS Center
80 South Eighth Street
Minneapolis, MN 55402

Firm Event

When the need for an internal investigation arises, the role of an organization's audit committee—and the communication between it and the investigative team—can be critical in ensuring a thorough, cost-effective investigation.

Join us for a panel discussion on Thursday, November 5, which addresses the audit committee's role vis-a-vis the internal investigative team in light of the financial and other risks frequently faced by organizations in the investigative process.

The panel will include Gray Plant Mooty attorneys Tom Johnson, Rick Kubler, and Kermit Nash, who have worked extensively with clients to assist them through the investigative process. Joining them will be George Koeck, general counsel of Otter Tail Corporation and audit committee chair of Noridian Mutual, providing an audit committee's perspective on internal investigations, and Kathy Tunheim, who specializes in crisis management at the consulting firm Tunheim.

The panelists will examine the appropriate roles for—and the relationship between—the investigation team and the audit committee throughout the investigative process. Issues to be addressed include:

  • What policies and procedures should be in place pre-investigation?
  • When can and should an audit committee authorize an investigation?
  • What is the audit committee's role during an investigation, vis-a-vis:
    • Outside counsel
    • Public relations issues
    • Insurance issues and cost recovery
  • How far should an audit committee go in directing the format and distribution of the findings?
  • What should the audit committee do post-investigation?