Audit Committee of the Board
The Audit Committee assists the Board to oversee our financial statements, financial reporting processes and internal control systems. It also oversees the qualifications, independence and performance of Altria’s independent registered public accounting firm, internal auditors and our compliance with legal and regulatory requirements.
Disclosure Controls Committee
The Disclosure Controls Committee oversees Altria’s disclosure controls and procedures for financial reporting and reviews the company's financial filings and disclosures.
Corporate Audit Department
The Corporate Audit department provides senior management and the Audit Committee with assessments of the adequacy and effectiveness of Altria’s financial/compliance/operational systems and controls. These assessments are essential to help us deliver value to our shareholders and earn investors’ respect and trust.
The Corporate Audit department provides day-to-day audit support and gives additional assurance that our operations are appropriately controlled and monitored to our independent accounting firm, PricewaterhouseCoopers LLP. The department helps maintain effective controls, compliance with company policies and process efficiencies.
The Finance department, of which Corporate Audit is a part, works to see that Altria maintains appropriate management systems and controls.
The Sarbanes-Oxley Act mandates a number of practices, processes and certifications to enhance corporate governance and enrich financial disclosures, and to prevent corporate and accounting fraud.
Senior management, the Disclosure Controls Committee, Finance, Law and Corporate Audit departments each play a role in overseeing the company's compliance efforts.
Altria has a Code of Conduct
that provides guidance to employees of Altria and its subsidiaries.
We provide employees with training to reinforce the importance of financial integrity.
Due to the highly technical and complex nature of the financial reporting, financial controls and disclosures processes, many Finance department employees take additional professional education courses to stay aware of the latest accounting and financial reporting requirements.