To strengthen the audit committee's practices, directors should monitor changes and challenges that may impact the committee's agenda. DirectorConnect has identified the following audit committee-specific publications, related key issues and thought leadership to help committee members stay informed, ask the right questions, provide appropriate advice and devote time to other important responsibilities.

US: Current developments for Mutual Fund Audit Committees - 2Q11
The PwC US Investment Management Audit Committee Current Developments Task Force issues the Quarterly Summary of Developments for Mutual Fund Audit Committees.

Audit Committee Matters - Summer 2011: Audit committees’ role in countering cybercrime
This issue of Audit Committee Matters discusses how the issue of cybercrime can affect the board of directors of your Canadian organization.

2011 State of the Internal Audit Profession Study
PwC’s 2011 State of the Internal Audit Profession Study examines how internal audit is responding to a diverse and complex risk environment within today’s business landscape. Three significant themes emerged from the survey and discussions with internal audit leaders: strategic growth, information technology, and regulation. The survey data supports a clear recognition of the risks at hand and the opportunities for the profession. However, the results lacked a show of confidence in internal audit's ability to capture these opportunities and provide enhanced value and relevance.

How can audit committees grow through new ways of thinking?
This edition explores key financial reporting questions for CFOs at June, the potential to create growth through diversity and the importance of employing a risk appetite that will support sustainable growth.

US: 2011 Current developments for directors
This annual publication looks from the director's point of view at the key issues they are facing, offering information, insights, and practical guidance so that directors can meet the demands of their role more knowledgeably and enrich boardroom discussions.

US: 2010 Year-end questions audit committee members should be asking
Audit committees will need to consider the following questions to help set the agenda for the oversight of their company’s year-end financial reporting processes, which is complicated by an active regulatory environment and a fragile economy. The questions focus on accounting and disclosure, internal control, risk management and other issues, including compliance and standard setting changes.

US: BoardroomDirect: Update on current board issues
PwC's e-newsletter BoardroomDirect delivers our latest board level insights on a quarterly basis.

US: To the point: Current issues for boards of directors
Topics of immediate interest to directors. Dodd-Frank Wall Street Reform Act and implications regarding corporate governance.

Canada: Changes in financial reporting requirements for Canada’s not-for-profit organizations
The following article discusses what directors need to know about new accounting standards for not-for-profit organizations issued by the Canadian Accounting Standards Board in December 2010.

Canada: A Matter of Primary Importance: Making the Most of Audit Committees in Primary and Secondary Education Institutions
This paper sets out a series of leading and emerging practices to assist school boards and other education institutions establish and implement effective audit committees.

US: To the point: Current issues for boards of directors
We recognize that the current economic crisis makes it even more challenging for directors to discharge their fiduciary duties effectively, represent shareholders' interests, and advise management. This publication is another example of our continuing efforts to keep you informed.

US: 10Minutes on maximizing internal audit
10Minutes on Maximizing Internal Audit shares PwC's point of view on the role of internal audit and its place in an organization's risk management process.

US: Maximizing internal audit: A 10-step imperative for thriving in a challenging economy
In today's challenging business environment, maximizing internal audit is an imperative. This paper outlines a proven approach to maximizing internal audit resources to illuminate issues in an organization and to reposition internal audit as a key factor in a broad range of significant governance, strategic, financial and operational risk, and compliance issues.

Canada: Achieving Audit Committee Effectiveness
Sarbanes-Oxley, Bill 198 and other regulatory changes have put tremendous demands on audit committees. They must learn how to work smarter and to allow enough time to complete their ever-lengthening list of duties, according to a new PwC study.

Canada: Audit Committee Effectiveness: What Works Best
Audit committees must learn how to work smarter and to allow enough time to complete their ever-lengthening list of duties, according to this PwC study.

US: Working guide for an investment company's audit committee
The guide reflects the changes to the audit committee responsibilities stemming from SOX and compliance program rules or registered investment companies and investment advisers.

International Financial Reporting Standards (IFRS)

Audit committees should understand the differences between Canadian GAAP and IFRS and the new standard's impact on the entire organization, the industry in which it operates, and its stakeholders. These publications can help members with their decision-making.

Canada: PwC Canada’s IFRS Survey
Insights into IFRS Standards in Motion - High Priority Projects: A PwC Canada Survey Report.

Canada: How Does the Handbook Change with IFRS?
The following article discusses what directors need to know about various changeovers involving International Financial Reporting Standards.

Canada: IFRS Checklist for Companies: Top 10 issues to address before conversion deadline
Directors should consider not only the oversight of the IFRS conversion process itself but also the potential implications relating to risk, stakeholder relations, financial reporting and internal controls.

Canada: Poll: IFRS and Board Members
PricewaterhouseCoopers has put together this two-question poll to gauge the interest of Canadian directors to receive IFRS training.

US: 2010 Current developments for directors: Navigating changing times
PwC's Current developments for directors examines key issues facing you as a director. Its purpose is to offer information, insights, and practical guidance so that you can meet the demands of your role more knowledgeably and enrich boardroom discussions.

US: 10Minutes on the emerging influence of IFRS
IFRS is already affecting US companies, with the impact broadening considerably over the next few years as ongoing convergence of US GAAP and IFRS brings key financial reporting changes and numerous business implications. Companies are also feeling the indirect effect of IFRS adoption by their foreign subsidiaries and counterparties, particularly in customer and vendor transactions. To take these developments in stride, companies must assess where IFRS intersects with their financial reporting and business decisions, both here and around the globe.

Canada: IFRS in Motion: Keeping on Track
This PricewaterhouseCoopers publication provides an overview of the key strategies common among companies that have successfully converted to International Financial Reporting Standards (IFRS).

Canada: Putting IFRS in Motion: Key accounting issues for pharmaceuticals and life sciences companies
The following publication discusses the key accounting issues relevant to pharmaceutical and life sciences companies as they make their conversion to International Financial Reporting Standards.

Canada: Getting Ready for IFRS: What Directors Need to Know
Boards need to strategize and address the implications of IFRS conversion for their organizations.

Canada: Putting IFRS in motion: Are you on track?
This publication provides companies with an understanding of the background and context behind the decision to adopt IFRS and the key strategic issues they'll face when migrating.

Canada: Financial Reporting Release, January 2009
In this issue: The Future of Canadian GAAP, The Future of Canadian GAAP – NPOs, The Future of US GAAP, Fair Value Accounting, Asset Impairment, Derecognition and Consolidation, Impact of Current Market Conditions on Disclosure, Discontinued Operations, Earnings Per Share, Revenue Recognition, Financial Statement Presentation, Financial Instruments – Canadian Private Enterprises, Emerging Issues Committee Abstracts.

Canada: Financial Reporting newsletters
A regular newsletter that provides updates to international and national auditing standards.

Internal audit

Part of the audit committee's role includes identifying chief risks and the risk management policy. Since internal audit plays a key role in both areas, directors should ensure the function’s effectiveness by understanding its contribution.

US: 10Minutes on maximizing internal audit
10Minutes on Maximizing Internal Audit shares PwC's point of view on the role of internal audit and its place in an organization's risk management process.

US: Maximizing internal audit: A 10-step imperative for thriving in a challenging economy
In today's challenging business environment, maximizing internal audit is an imperative. This paper outlines a proven approach to maximizing internal audit resources to illuminate issues in an organization and to reposition internal audit as a key factor in a broad range of significant governance, strategic, financial and operational risk, and compliance issues.

Canada: Strategy Talks Audio Podcast Series Episode 21: Internal Audits — A New Strategic Position
Dean and Helen talk with Mike Harris, leader of the Corporate Governance practice and Matthew Wetmore, a partner in the Internal Audit practice of PwC. They discuss how to make internal audits work for you in a time of crisis.

Canada: A New Strategic Position - Redefining Internal Audit in an Economic Downturn
This paper discusses how the financial crisis is shifting the focus on internal audit from regulatory compliance to managing operations and risks more effectively.

US: 2008 State of the internal audit profession study
This fourth annual report captures the current view of the internal audit profession.

Canada: Audit Committee Effectiveness – What Works Best
Audit committees must learn how to work smarter and allow enough time to complete their ever-lengthening list of duties, according to this PwC study.

Canada: Global Best Practices
This PwC Canada service will help achieve a company's operational excellence by sharing process-level best practices and benchmarking tools that have been implemented and proven at many of the world’s leading companies.

US: Internal audit 2012
This PwC US survey shares a composite picture of internal audit by 2012.

Incident reporting provisions and fraud risk assessment

Businesses can't afford economic crime's growing impact. Audit committees should proactively establish, oversee and re-evaluate their anti-fraud regime.

Global: World Watch: Issue 1 2010
This edition of our governance and corporate reporting magazine includes 36 pages of news and views from around the world.

Global: Economic crime: People, culture and controls
According to this international survey, no industry is immune from the economic crime's risks.

Global: Confronting corruption*
This report examines what companies are currently doing to manage the risk of corruption and the steps they can consider to better protect themselves.

Financial instruments

Measuring financial instruments presents significant complexity for audit committees. To simplify the confusion, they must fully understand their options, their impact on financial statements and create implementation policies.

US: The Quarter Close - Directors edition: A look at this quarter's financial reporting issues
This quarterly publication is designed to keep directors informed about the latest accounting and financial reporting issues.  In response to directors' requests, we have developed this version specifically for audit committee members and financial experts.

Global: World Watch: Issue 1 2010
This edition of our governance and corporate reporting magazine includes 36 pages of news and views from around the world.

US: Marking to market: How far is far enough?
This publication voices PwC’s point of view on the use of fair value as a measurement.

Global: Can financial instrument accounting be simplified?
This discussion paper accesses the practical implications of the IASB's discussion paper Reducing complexity in reporting financial instruments and how companies can help shape future developments.

Canada: Financial reporting news
These PwC Canada newsletters and publications help organizations stay up-to-date on financial reporting issues.

Internal control over financial reporting

Audit committees must sustain effective financial reporting over their internal controls by scheduling update meetings with management and learning leading practices.

Global: World Watch: Issue 1 2010
This edition of our governance and corporate reporting magazine includes 36 pages of news and views from around the world.

US: To the point: Current issues for boards of directors
We recognize that the current economic crisis makes it even more challenging for directors to discharge their fiduciary duties effectively, represent shareholders' interests, and advise management. This publication is another example of our continuing efforts to keep you informed.

US: 2010 Current developments for directors: Navigating changing times
PwC's Current developments for directors examines key issues facing you as a director. Its purpose is to offer information, insights, and practical guidance so that you can meet the demands of your role more knowledgeably and enrich boardroom discussions.

Global: Economic crime: People, culture and controls
According to this international survey, no industry is immune from economic crime's risks.

Canada: Global Economic Crime Survey 2007: Canadian Summary
This summary provides a Canadian perspective on the 2007 global survey results, with insights into the perceptions, awareness and impact of economic crime across Canada and around the world.

US: Are your internal controls supporting your business strategy?
This white paper highlights the benefits of strong internal controls for private companies and outlines the steps they can take to get there.

US: Looking ahead: Strengthening the structural foundation of the US investment management industry: Internal controls
In this publication, we present our observations on five areas of internal control with important ramifications for the industry, and we offer suggested practices to address challenges seen in each area.

Canada: Financial reporting news
These PwC Canada newsletters and publications assist companies with staying informed on financial reporting issues.