Typically, the stewardship responsibilities of a board of directors include the identification of an organization’s principal risks, the implementation of systems to manage them, and the integrity of internal control and management information systems. Typically, an internal audit function plays a key role in assessing and reporting on these areas.
In case your 2010 year-end tasks haven't flowed over into the new year, you might want to know where to find relevant International Financial Reporting Standards (IFRS) documents. Remember, public enterprises must make the change from their current practices to IFRS by January 1, 2011. Private organizations that choose to adopt IFRS must switch by 2012.
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