2012 Financial Services Audit Committee Forum

This program focused on practical information that financial services audit committee members can use to meet the changing demands of their roles. We gathered leaders from across the financial services industry to share their experiences and discuss ongoing challenges facing the industry just before the pivotal presidential election, including evolving regulatory requirements, impact of the eurozone crisis and other key developments.

Financial Services Audit Committee Forum presentation

Agenda

Jim Flanagan

Welcoming remarks

Jim Flanagan Leader, US Financial Services Practice, PwC

Jim's bio


Lou Dobbs

Keynote address

Lou Dobbs, Business and Financial News Legend and Host, Fox Business News' Lou Dobbs Tonight
The political economy

Lou's bio


Panel 1

Current regulatory and standard-setting developments
This panel will discuss some of the significant changes being considered by the SEC, FASB, and PCAOB - and how those changes have the potential to affect a variety of stakeholders in the financial reporting chain, including investors, audit committees, companies, and auditors. The panel will also touch upon the upcoming general election and how it might impact the regulatory environment going forward.

Moderator: Lou Dobbs, Business and Financial News Legend and Host, Fox Business News' Lou Dobbs Tonight - The political economy

Panelists:


Panel 2

Impact of the eurozone breakup: Strategies for audit committees
With the events of the last year or so, the threat of fragmentation of the eurozone is real and growing. The current scenarios range from status quo to a complete disintegration of the common currency, with various levels of country exit in between. When the euro was created, our financial institution clients spent years planning to accommodate the common currency. In the case of a euro exit or disintegration, any reversal into former national currencies would likely need to be made quite quickly, perhaps over a weekend. The panel will explore plausible scenarios, discuss the level of preparedness of financial institutions to manage those scenarios and examine the role of boards and senior management in the preparedness process.

Moderator: Lou Dobbs, Business and Financial News Legend and Host, Fox Business News' Lou Dobbs Tonight - The political economy

Panelists:


Ian Bremmer

Luncheon address

Ian Bremmer, President, Eurasia Group
Every nation for itself: Winners and losers in a G-Zero World

Ian's bio

Industry sector breakouts

2012 Audit Committee Forum

Asset management breakout

This session will feature a regulatory compliance panel followed by interactive roundtable discussions, facilitated by PwC partners. Discussion topics will include valuation risk management and board effectiveness. The session will conclude with accounting and tax updates impacting asset managers.

Additional Resources

Banking and capital markets breakout

The banking and capital markets breakout will include multiple sessions on key issues impacting financial institutions and of interest to their audit committees. PwC partners will provide insights and practical guidance on the continuing impact of Dodd-Frank and other regulatory developments, governance and risk management trends and their implications that boards should consider, and financial reporting issues and requirements coming out of the SEC, FASB and PCAOB. Attendees will have the chance to engage speakers in a lively dialogue on the key issues confronting financial institutions.

Additional Resources

Insurance breakout

The Insurance breakout session will provide insurance company audit committee members practical guidance on and the opportunity to discuss with peers a variety of current industry developments. PwC partners and guest speakers will provide the audience insight into emerging risks and the regulatory and industry trends that affect corporate oversight.

Additional Resources

Additional resources