|A report by the public accountancy’s Audit Committee Institute also advises committees to hone in on financial accounting and reporting, keep abreast of proposed regulatory changes, ensure the ethics and compliance program is up to par, and manage tax-related risks appropriately. |
Fast-changing economic conditions, persistent globalization and geopolitical turbulence, and emerging laws and regulations are among the topics likely to make their way onto audit committee agendas often this year, forecasts KPMG LLP. An eight-page report by the public accountancy's Audit Committee Institute ― a document CAEs might judge to be a beneficial handout to their audit committee chair ― says developing appropriate responses to the challenges apt to arise from this difficult and dynamic environment will require those committees to establish and focus steadfastly on five overarching priorities.
Read the KPMG report Audit Committee Priorities for 2014