Audit committees in Switzerland - insights and perspectives
Is your Audit Committee as effective as it could be?
- Audit Committee effectiveness framework
- Audit committees in Switzerland
- Are audit committees ready?
- Profile of the Swiss audit committee
Audit Committee effectiveness framework
Being an audit committee member today is more complex than ever. In addition to increased reporting requirements, there is a demand for higher transparency from stakeholders and increased compliance requirements across many industry sectors. We are also experiencing a wave of new risks, ranging from cyber-attacks to crises and reputational issues that require careful navigation at board level.
The role of the audit committee member is not one to be underestimated, but how do you ensure your audit committee is as effective as it should and could be? Is your committee fulfilling its mandate or just “ticking the boxes”?
There is currently little guidance on audit committees in the Swiss landscape. The recently developed audit committee effectiveness framework has been designed as reference guide to enable audit committees to best fulfil their remit and to evaluate their effectiveness. This framework is based on the Swiss Code of Best Practice for Corporate Governance (SCBP) as well as leading practices from around the world.
Sign up to receive a copy of the framework and to set-up a meeting to discuss audit committee effectiveness and our framework in more detail.
Audit committees in Switzerland
Corporate governance and board related topics are becoming increasingly prominent for companies across the globe. Our recent study focuses on analysing insights and perspectives for audit committees in Switzerland. This publication is specifically looking at Swiss companies and is based on interviews held with a number of Swiss audit committee members and public disclosures on the largest groups listed on the Swiss Stock Exchange (SIX). It provides insight into audit committees, current role and responsibilities, working methods as well as future trends. It also seeks to compare Swiss audit committee practices with those in Europe and the US.
Our study covers the following themes and topics:
- Composition, skills and competencies
- Independence of the audit committee members
- The role and responsibilities and how it operates in practice
- Its role in the oversight of risk
- Its interaction with internal and external audit
- The performance evaluation process
Are audit committees ready?
Audit committees are becoming increasingly important in the context of board responsibility and have a growing public profile. Findings from our most recent thought piece ‘Audit committees in Switzerland – Insights and perspectives’ indicate that audit committees in Switzerland are facing the task of having to re-evaluate the committee’s composition and skillset necessary for the future. For a more detailed overview of the study’s key findings download the full Handelszeitung Audit Special article (in German). To receive a copy of the full report and discuss the findings us, with please register via the link above.
(Source: Handelszeitung Audit Special , 11.02.2016)