Prioritizing a heavy audit committee agenda is never easy, and 2016 will be particularly challenging given the level of global volatility and uncertainty—e.g., the geopolitical environment, commodity prices, interest rates, currency fluctuations, slowing growth in emerging markets—as well as technology advances disrupting established industries and business models. Drawing on insights from surveys and interactions with audit committees and business leaders over the past 12 months, the Audit Committee Institute has highlighted six items for audit committees to keep in mind as they consider and carry out their 2016 agendas.
This number-one item from last year holds true for 2016. In ACI’s 2015 Global Audit Committee Survey, nearly half of the 1,500 audit committee members who responded said it is “increasingly difficult” to oversee the major risks on the audit committee’s agenda in addition to its core responsibilities (financial reporting and related internal controls, and oversight of internal and external auditors).
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