Audit Committees are expected to play a vital role in governance and in building trust in corporate reporting. Audit Committees, therefore, need members who have appropriate levels of expertise and knowledge of the industry and of the company. This course will explore the fundamentals of the role of the Audit Committee and the nature and essential qualities of its members, particularly the Audit Committee Chairman. The course will cover the relationships with all key stakeholders and will examine all the key information flows and decision processes.
Day 1: The Role and Responsibilities of Audit Committee Members
What does an Audit Committee Do?
What are the Audit Committee Essentials?
Day 2: Overview of the Relationships with Key Stakeholders
The Finance Team
External Audit
Internal Audit
Audit Committee Activities
Membership and Attendance
Financial Reporting
Guidance on what must be included in the Audit Committee Report
Complex Transactions
Whistleblowing
Annual Reviews of External and Internal Audit Effectiveness
Annual Review of Audit Committee's effectiveness