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Global Audit Committee Survey

KPMG’s Audit Committee Institute surveyed audit committee members from more than 34 countries to identify broad international trends and audit committee challenges.    While the audit committee members surveyed were from a far wider set of corporate entities than mutual funds, many of the areas of concern are similar to those faced by fund audit committees. 

Key findings of the survey include:

  • Regulation, uncertainty and volatility, and operational risk are top challenges today.
  • The audit committee’s  job continues to grow more difficult.
  • The quality of information about cyber risk, technology and innovation, and global systemic risk is falling short.
  • Most companies don’t have a CFO succession plan in place.
  • Leading indicators and non-financial drivers of long-term performance are often elusive.
  • Internal audit should also be looking at risk management, IT and operational risk – but may lack necessary skills and resources.