PwC’s “Audit committee effectiveness - Practical tips for the chair” is an all-around great basics guide for the audit committee chair as respects committee organization and process, as well as a helpful resource for the board and the Nom/Gov Committee to inform their director selection, board committee composition, and committee succession responsibilities.
Coverage includes desired audit committee chair skills and attributes; committee composition and size requirements and other suggested criteria; recommended audit committee onboarding topics and ongoing education considerations; best and suggested practices for committee meeting pre-read materials, meeting protocol, meeting agendas, and executive and private sessions; annual evaluations; and proxy disclosure.
The guide includes links to other firm checklists, samples, and guidance throughout. A sample annual audit committee meeting calendar is included in the appendix.