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Audit Committee Evolves: Considerations & Action Items

By Randi Morrison posted 05-22-2023 10:07 PM

  

This Future of the American Board report: “Audit Committee Blueprint” from the NACD and the KPMG Board Leadership Center discusses 10 critical areas of audit committee focus based on challenges associated with the rapidly evolving business landscape identified by a working group composed of directors and experts, including Society members Claudia Allen (KPMG), Sonia Gupta Barros (Sidley Austin ), and Thomas Kim (Gibson Dunn). Touching on all aspects of the committee’s oversight— including the breadth, complexity, and time commitment associated with core/traditional and emerging expectations and responsibilities, as well as the committee’s composition—the report outlines relevant considerations, summarizes working group observations, and suggests how the audit committee should approach each area of focus and associated action items to optimally effect its oversight responsibilities.

See “Overburdened Audit Committees Threaten Quality of External Audits” (CFO.com) and additional resources on our Audit Committees page.

                          This post first appeared in the weekly Society Alert!

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