Of course, no one size fits all the practices discussed in this Guide should be considered in the context of each audit committee’s needs and circumstances. These and other broader issues are included, however, as the audit committee may have an important role to play (if simply as a catalyst) in helping to ensure that key issues-particularly those related to risk and compliance-are being addressed appropriately.
#Audit committee oversight process guidelines full
Some of the issues covered in the Guide-e.g., risk oversight, cybersecurity and the impact of emerging technologies, long-term performance metrics, shareholder activism, and environmental, social, and governance (ESG) issues-are clearly matters that require the full board’s attention. stock exchange (NYSE or Nasdaq) and can also serve as a resource-to the extent applicable-for audit committee members of private companies, non-U.S. It is written for the needs of companies listed on a U.S. To that end, the Guide covers the fundamentals-e.g., basic requirements and responsibilities and key areas of oversight-and offers insights into the current challenges and leading practices shaping audit committee effectiveness today. The Guide is intended to be a practical, user-friendly reference for both new and seasoned audit committee members, and for the management and audit teams who work with the audit committee. This 2021 edition of the KPMG Audit Committee Guide (the Guide) draws on insights from our interaction with thousands of audit committee members, audit and governance professionals, and business leaders across the country and around the world.
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