To help identify the pressing challenges and concerns that are top of mind for audit committees today, KPMG’s 2014 Global Audit Committee Survey captures the views of nearly 1,500 audit committee members around the world on a range of timely issues – from the top challenges facing companies in the year ahead and the audit committee’s increasing workload, to corporate performance, the effectiveness of the CFO and finance organization, and the quality of the information directors receive about the company’s key risks.
As highlighted in the following pages, our survey identifies broad international trends and provides detailed country data on audit committee challenges and concerns in different geographies. Generally, we continue to find that audit committees in countries where corporate governance and audit committee practices are more deeply rooted tend to be more confident in their oversight; yet, audit committee members in every country we surveyed cite opportunities for improvement.
Audit committees have a unique perspective on the risks facing the business; their vantage point sheds important light for the full board – as well as management and auditors. As directors help guide their companies forward in the challenging months ahead, our survey findings can serve as an important tool for benchmarketing current practices, identifying gaps and emerging risks, and sparking robust conversations about how audit committees and boards can strengthen their oversight and keep pace in an increasingly complex and fast-changing world.
- KMPG’s Audit Committee Institute
Download the survey report