On the 2019 Audit Committee agenda
On the 2019 Audit Committee agenda
Audit committees can expect their company’s financial reporting, compliance, risk and internal control environment to be put to the test in the year ahead. Among the top challenges and pressures: long-term economic uncertainty (with concerns about mounting trade tensions, resurging debt, and market valuations), technology advances and business model disruption, cyber risk, regulatory scrutiny and investor demands for transparency, and political swings and policy changes in the US, UK, and elsewhere.
Drawing on insights from our interactions with audit committees and business leaders over the past 12 months, we’ve highlighted 6 items that audit committees should keep in mind as they consider and carry out their 2019 agendas:
- Take a fresh look at the audit committee’s agenda and workload
- Sharpen the company’s focus on culture, ethics and compliance
- Understand how the finance team will reinvent itself and add greater value in this technology and data-driven environment
- Monitor corporate reporting as well as progress on implementing new standards
- Focus internal audit on the company’s key risks and controls – including those beyond financial reporting and compliance
- Reinforce audit quality by setting clear expectations for the auditor
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