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Audit Committees in a New Era of Governance

  • USD 6,800

  • classroom only
  • United States (Boston) |
  • Date not specified
  • Certificate

As the focus on corporate governance and oversight has grown, so has the complexity of regulatory challenges facing audit committees. This corporate governance strategy program explores the best practices that your audit committee can use to fulfill its mandate and increase its strategic contribution. You will acquire the frameworks to align corporate strategy with financial reporting—and help your company operate more effectively in today's rigorous market and regulatory environment.

Program Benefits

This audit committee training program prepares you to manage the creative tension between the compliance and strategic roles of the audit committee. While improving your ability to ensure compliance, transparency, and accountability, you will learn how to move your company beyond a compliance mentality toward strategic financial reporting and effective risk management.

Enable the audit committee to play a more strategic role

  • Align financial reporting, compliance, and risk management functions with the company's growth and profit objectives
  • Ensure the integrity of financial information
  • Foster the right culture regarding compliance and risk
  • Develop a financial reporting strategy

Improve audit committee effectiveness

  • Develop better tools to manage cybersecurity and other risks
  • Enhance oversight of the finance, accounting, and risk management functions
  • Improve transparency and the quality of audit and financial reporting
  • Oversee legal and regulatory compliance more effectively
  • Strengthen collaboration with corporate management and auditors
  • Ensure optimal communication with investors on financial reporting and disclosure

Expand your personal and professional network

  • Extend your network by living and working with accomplished executives from various backgrounds, industries, and countries across the globe
  • Build relationships with a diverse group of peers who can provide wide-ranging insights into your business challenges and career decisions

Who Should Attend

  • Current or potential audit committee members on boards of publicly listed companies, board chairs, and chief executive officers
  • Chief financial officers, general counsels, and risk officers who work closely with audit committees
  • Also appropriate for: Audit firm partners, investor relations professionals, legal advisors, and nonprofit board members

Faculty

Krishna G. Palepu
Ross Graham Walker Professor of Business Administration
Jay W. Lorsch
Louis E. Kirstein Professor of Human Relations
Suraj Srinivasan
Philip J. Stomberg Professor of Business Administration
Lynn S. Paine
John G. McLean Professor of Business Administration

*Program faculty is subject to change

Curriculum

The curriculum addresses the core responsibilities of audit committees as well as the emerging area of risk management. You will learn how to strengthen internal control systems and ensure that your company's strategy is reflected in its financial reporting. Through a rich learning experience that includes faculty presentations, case studies, and small group discussions, you will explore four key areas critical to effective audit committees:

Strategy and financial reporting

  • What are the drivers of success and risk in the company? How are these reflected in its financial reporting?
  • How should audit committees provide oversight of financial reporting and risk management?
  • How can the company best manage its key financial reporting risks?

Transparency and investor communication

  • How can audit committees ensure that the company is meeting investor expectations for improved transparency in financial reporting and disclosure?
  • What role, if any, should audit committees play in the investor relations process?
  • How should you assess the costs and benefits of providing non-GAAP disclosures? What form should non-GAAP disclosures take?
  • How should the financial reporting strategy balance short-term performance pressure with achievement of long-term objectives?

Risk management

  • How can audit committees create an appropriate risk management infrastructure in the company?
  • What are the risk culture and the tone at the top of the company, and how do they affect corporate performance?
  • How should companies manage their cybersecurity risk, and how should boards monitor this?
  • How can companies use strong internal controls to promote rather than hamper growth?
  • How can audit committees measure performance in the areas of ethics and compliance?

Audit committee processes

  • How can audit committees better manage their relationships with directors, corporate management, and internal and external auditors?
  • What can an audit committee do to help improve audit quality?
  • How can audit committees ensure effective talent management and succession planning in the finance, accounting, and risk management function?
  • How can audit committees be designed to manage increasing demands?

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