Audit committee issues transcend borders

Audit committee members in Asia, Europe and the U.S. confront many of the same challenges, says leading organizations representing public company auditors.

A new report has highlighted the common themes identified during a recent, multi-continent discussion series on enhancing the effectiveness of public company audit committees.

Read: Internal audit enhancements a must: PwC

This report is the result of a series of discussions in Brussels, Hong Kong, and New York, which were led by the Federation of European Accountants (FEE), the Institute of Chartered Accountants in Australia (ICAA), and the Center for Audit Quality (CAQ).

Attendees of the discussions included members of governance and audit committee communities in the three jurisdictions. “The report exposes the fact that audit committees [globally] are facing many of the same issues,” says CAQ executive director Cindy Fornelli.

She adds, “[We need to] identify leading audit committee practices; ensure greater consistency in the performance of audit committees across the spectrum of public companies; and enhance transparency about how they meet obligations to investors.”

Read:

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Investors wary of internal audits

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.