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Audit Committee Effectiveness

Audit Committee Effectiveness

In addition to their "core" duties, many audit committees also oversee a host of major risks facing the company such as cyber security, emerging technologies and social media. With an increasing remit, now more than ever, audit committees must be effective in their oversight. Audit committee effectiveness clearly hinges on some fundamentals, including "the right committee composition and dynamics; an up-to-date charter with well-defined responsibilities; a risk-based approach to setting the committee's agenda; an understanding of current and emerging issues; and proactive, engaged oversight-beyond the boardroom".  


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In this issue of Global Boardroom Insights, we revisit the fundamentals of audit committee effectiveness with the audit committee chairs of LVMH Group, General Electric, Lenovo, Deutsche Bank, Wolseley Plc and Fubon. But we’ve also gone a step further to explore the practices and nuances that these audit committee chairs consider vital to being truly effective in a complex and rapidly changing environment.We hope you find this global interview series to be a valuable resource from KPMG’s ACI to support audit committees and boards with practical insights, resources, and peer-exchange opportunities.

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