BoardroomDirect ®

Update on the current board issues: June 2015

Inside this edition

Audit committee member perspectives on the PCAOB’s Audit Committee Dialogue and the Audit Committee Collaboration’s External Auditor Assessment Tool

As their responsibilities grow, audit committees continue to focus on overseeing the company’s financial statements and external auditor while ensuring the quality of the audit. To aid audit committees in carrying out these responsibilities, two publications were recently released: the Audit Committee Collaboration’s External Auditor Assessment Tool and the PCAOB‘s Audit Committee Dialogue.

To gain practical feedback around the usefulness of these publications for audit committees, PwC’s Center for Board Governance had conversations with Dennis Beresford, NACD board member and Executive in Residence at Terry College of Business, University of Georgia (and former FASB chair and audit committee chair for various companies), and Vanessa Chang, audit committee chair of Edison International and American Funds.

In the conversations, both Beresford and Chang indicated that audit committees should review these new resources and consider how they could use them in their oversight role.

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