MFDF - Mutual Fund Directors Forum - Audit Committee Priorities for 2014 test

Member Login



Request an account

Sample Banner 1

Audit Committee Priorities for 2014

KPMG has published a list of Audit Committee priorities for 2014, highlighting issues that firm believes will be key for audit committees in the coming year.  These priorities include:

  • Staying focused on job #1: Financial accounting and reporting.
  • Monitoring key PCAOB proposals potentially impacting the external auditor's role.
  • Leveraging internal audit as a barometer of the company's financial health -- helping the audit committee understand the quality of financial controls, processes, and people.
  • Making sure the company's ethics and compliance programs are keeping up with new vulnerabilities to fraud and misconduct.
  • Understanding the company's significant tax risks and tax risk appetite; pay particular attention to the global "tax morality" and "tax transparency" debates, and assess the impact of tax on the company's brand.

KPMG’s publication also contains a list of broader governance matters for audit committees:

  • Understand how technology is continuing to transform the competitive landscape -- and assess whether the board's oversight processes enable directors to help lead the company forward.
  • Recognize that good risk management entails both defense and offense.
  • Set the tone and closely monitor leadership's commitment to that tone, and actively "listen to the conversation" below senior management and outside the corporate office.

 

 
  • All
  • Accounting and Audit
  • Advisory Contracts
  • Board Governance
  • Board Governance: Board Leadership
  • Board Governance: Compensation
  • Board Governance: Oversight of CCO
  • Board Governance: D&O Insurance
  • Board Governance: Self-Evaluation
  • Closed-end Funds
  • ETFs
  • Other Oversight
  • Other Oversight: Alternative Investments and Derivatives
  • Other Oversight: Custody
  • Other Oversight: Fixed Income funds
  • Other Oversight: Distribution
  • Other Oversight: Portfolio Trading
  • Other Oversight: Proxy Voting
  • Other Oversight: Securities Lending
  • Legislative News
  • Money Market Funds
  • Reference
  • Regulatory News
  • Risk
  • Shareholder Disclosure
  • Valuation
  • Webinars
  • Aaron New Tag

SHOWING 0 TO 0 OF 0 ENTRIES (FILTERED FROM 0 TOTAL ENTRIES)