PwC continues to be active in providing boards and audit committees with leading information on corporate governance. Our global publication, Audit Committee Effectiveness-What Works Best - 3rd Edition, was sponsored by The Institute of Internal Auditors Research Foundation.
This report contains the most current and comprehensive guidance available on leading audit committee practices, including insight into how committees are effectively and thoughtfully discharging their expanded duties and specific examples of how leading committees are not just complying with, but surpassing, requirements. Highlights include:
- Driving transparency - While audit committees are more active in getting behind the numbers, they also are focusing on ensuring that related disclosures tell the company’s full story
- Managing a full plate - Audit committees are grappling with expanded responsibilities, including risk management and compliance and ethics-related activities - and leading committees are developing integrated approaches to tackle these areas
- Addressing higher expectations - Audit committees have heightened expectations of management, internal audit, and external auditors, and they are spending the time to build productive relationships - increasing the frequency and candour of communications
- Revamping meetings - Audit committee chairs are reassessing how they conduct meetings - paying more attention to setting agendas, requiring briefing materials to be targeted and timely, and ensuring active participation by the right people
The report includes an updated, comprehensive self-assessment guide that committees can use to evaluate their practices. In short, it is an informative, practical guide to what works best. We hope you find it valuable.
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To order Audit Committee Effectiveness-What Works Best - 3rd Edition, please complete the following form.
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