I started Section 2 - Corporate Governance, Internal Control & Enterprise Risk Management this week. I found that the first part of this section was a review of areas that I already studied in other sections of the exam along with some new concepts. In Corporate Governance, Roger lists several devices used as a means of monitoring management. One of these devices is a Board of Directors. Each section of the CPA exam at least touches on the Board of Directors so learning the typical duties of the board will help you every step of the way. Weve all heard about the audit committee that is established by the board but did you know that publicly-held companies are actually required to maintain two additional committees? I was surprised to learn that the nominating and corporate governance committee and the compensation committee are also required for publicly held companies. Of course these committees are a minimum and some companies have many more than three.