Audit committee disclosure

Perspectives

The strategic audit committee: A 2020 preview

On the board’s agenda—January 2020

Introduction

To anyone familiar with the role and responsibilities of audit committees, it will come as no surprise that the audit committee is sometimes called the "kitchen sink" committee. That is because, at many companies, any topic that isn't clearly the responsibility of another committee or the full board frequently ends up on the audit committee agenda.

Due to this and other factors, the audit committee agenda is usually jam-packed, and audit committees need to be strategic, prioritizing the matters they handle and using their time efficiently and effectively. The need for this strategic approach will almost surely increase in 2020, as the number and complexity of issues faced by boards and audit committees continue to grow.

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