Audit Committees in a New Era of Governance

Overview:

Introduction:

Audit committees play a crucial role in corporate governance by overseeing financial reporting, risk management, and compliance with legal and regulatory requirements. As businesses continue to face new challenges in a rapidly changing world, audit committees must adapt and evolve to keep up with the times. This five-day training course will explore the key issues facing audit committees in a new era of governance and equip participants with the knowledge and skills needed to effectively fulfill their roles.

Course Objectives:

At the end of this course, participants will be able to:

• Understand the evolving role of audit committees in modern governance.
• Identify key risks and challenges facing organizations today.
• Develop effective strategies for managing risk and ensuring compliance.
• Evaluate financial reporting and internal control systems.
• Foster a culture of ethical behavior and accountability within the organization.
• Targeted Audience:
• This training course is designed for individuals who serve on audit committees or aspire to do so, including:

Targeted Audience

• Board members
• Senior executives
• Internal and external auditors
• Risk managers
• Compliance officers
• Legal counsel

Course Outlines:

Unit 1:

• Overview of Audit Committees and their role in corporate governance.
• Recent trends and challenges facing audit committees.
• Regulatory frameworks and legal requirements.
• Effective communication between audit committees, boards, and management.
• Building effective relationships with external auditors.

Unit 2:

• Risk management frameworks and best practices.
• Emerging risks and how to address them.
• Cybersecurity risk and data privacy.
• Managing reputational risk.
• Fraud risk and prevention strategies.

Unit 3:

• Financial reporting and internal controls.
• The audit process and audit committee oversight.
• Audit findings and management response.
• The role of technology in auditing and financial reporting.
• Non-GAAP financial measures and their impact on audit committees.

Unit 4:

• Ethics and corporate social responsibility.
• Establishing a culture of ethical behavior.
• Whistleblower policies and protections.
• Conflict of interest management.
• Corporate social responsibility and sustainability reporting.

Unit 5:

• Audit committee effectiveness and best practices.
• Evaluating audit committee performance.
• Effective meeting management and decision-making.
• The role of audit committees in crisis management.
• Future trends and challenges facing audit committees.