Effective Audit Committees

This course outlines the most up-to-date guidance on the formulation of audit committees, their role, management and responcibilities. It will also look at the practical issues of effectively running audit committee meetings and how the impact of the committee can be enhanced within an organisation.

BACKGROUND: Many of the new assurance developments impact audit committees. A token, box-ticking, approach is definitely not enough. Today there is a keener appreciation that the board must be in overall control. Published financial statements are generally the statements of the members of the board - just at a time when accounting standards are more complex and the pressures on results are greater than ever. Keeping under review the independence and objectivity of the statutory auditor is also no mere formality. With packed board agendas it is no surprise that boards are entrusting to their audit committees much of the hard graft in these areas.

COURSE CONTENT

• The Smith Report and the 2008 Combined Code on audit committees
• Turnbull on internal control
• HM Treasury's 2006 guidance on audit committees
• Responsibilities of audit committees
• What can safely be left to others - and how?
• How a good secretariat and others can assist the audit committee
• Streamlined conduct of audit committee meetings
• Making sure the audit committee packs a punch
• US and EC developments

WHO SHOULD ATTEND

The course is designed for directors and others involved with audit committees including audit committee chairmen and members, chief executives, audit committee secretaries, others who attend and serve audit committees, and for internal and external auditors.