More is expected of audit committees today than ever before .The expected knowledge and experience of those that chair and sit on the audit committee is getting tougher. Ensuring your audit committee is aware of the implication of SMCR is a must. We’ll help you better understand your responsibilities, manage risk and add tangible value to your firm.
When firms run into trouble, one of the first questions asked is, “Where was the audit committee?” High-profile scandals have highlighted the consequences of poor audit, including black holes in the balance sheet and serious reputational damage.
Audit is high on the political and regulatory agenda. Since the financial crisis, expectations have never been higher for the audit function. You are the backstop to ensuring your firm is not on the receiving end of any nasty surprises from the regulator.
With increased pressure on your shoulders it can be hard to know where to begin. But one thing is certain: the regulator expects the audit committee to spot governance failures before they crop up. Failure to do so has serious repercussions for you and your firm.
Join us for this focused two-hour workshop. We’ll help you to better understand your responsibilities, provide a more robust challenge to management and meet the high expectations of the regulator and your stakeholders:
This course is not about wading through regulatory updates, or simply learning how to keep the regulator happy (although we will always try to do that). It’s about understanding the fundamental role played by the audit committee to improve its effectiveness and your firm’s overall governance standards.
Create a no-surprises culture
Nobody likes nasty surprises. Improving your knowledge of risk management will not only help protect your firm, it will help you become an even more valuable asset.
Improve collaboration
The highest standards are achieved when everyone works together. We help you understand how your role better supports senior figures in the firm and how you can improve collaboration with risk committees and external auditors.
Become a guardian of integrity
Simple compliance is no longer enough. The audit committee must now play an active role in the stewardship of the company. By helping your firm perform rigorous internal scrutiny, you’ll ensure integrity standards remain irreproachable.
Identify a practical model
Draw up a strategy to help you keep up with the ever-changing regulatory landscape and stay one step ahead of the regulator. Formal and transparent processes will make your committee more confident under scrutiny.
Lead by example
An effective audit committee is an excellent way to enforce good governance within your firm and promote meaningful self-assessment. Inspire the highest standards with objectivity and keen judgement.
The role of the audit committee
Working with the risk committee
Moving from compliance to adding value
Key issues for committees in financial services