Audit committees in Switzerland - insights and perspectives
Is your Audit Committee as effective as it could be?
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.
For more information on our audit committee effectiveness framework and how we can help you, connect with us.