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Audit committee articles

Articles and feature and from the ICAEW on the work and responsibilities of the audit committee

Displaying 1-23 of 23 results
One in three audit committee chairs ‘concerned’ about detection of financial distress
  • Dec 2024
  • ICAEW Insights
While most audit committee chairs are satisfied with audit quality, a third have concerns about auditors’ ability to identify going concern issues and signs of financial distress.
Exclusive INTERNAL AUDIT COMMUNITY I'm an audit chair - get me out of here!
  • Sep 2024
  • Carolyn Clarke - Internal Audit Community
In years gone by, the Audit Committee was firmly a finance domain. Audit Committee Chairs were predominantly accountants, often former external audit partners or CFOs, tasked with ensuring the financial results and the Annual Report reflected the performance of the organisation.
Accountants in business ‘must lead’ anti-corruption action
  • Jul 2024
  • ICAEW Insights
ICAEW joins forces with the International Federation of Accountants and the Basel Institute to offer anti-corruption guidance for accountants.
AUDIT AND ASSURANCE FACULTY Climate assurance: governance and accountability
  • Jun 2024
  • Audit and Assurance Faculty
Explore the board's responsibilities, audit committee obligations and the role of internal systems of management and control in delivering appropriate and effective climate assurance.
Business should embrace the audit and assurance policy
  • Apr 2024
  • ICAEW Insights
Despite the UK government dropping corporate governance reforms, many audit committee chairs are likely to continue following the principles behind the Audit and Assurance Policy even if they don’t publish a statement.
Net zero is a chance to say yes
  • Apr 2024
  • Andy Boteler, Director of Finance at Riverford Organic Farmers
Andy Boteler is Director of Finance at Riverford Organic Farmers, is Senior Independent Director and Chair of Audit and Remuneration Committee at LungLife AI and is Chair of Audit Committee at Octopus AIM VCT PLC. Here, he shares his perspective on what it means to be an FD in a purpose-led, employee-owned organisation.
Exclusive Corporate Governance Conference 2024
  • Mar 2024
  • ICAEW Corporate Governance Community
On 5 March 2024, ICAEW delivered its inaugural Corporate Governance Conference, exploring themes around restoring trust in corporate governance, avoiding a US style SOX regime, preventing disorderly collapses, and the evolving role of audit committees.
PIE audit market dynamics under the spotlight
  • Aug 2023
  • ICAEW Insights
Amid policymaker concerns about the resilience of the market, lowering existing barriers to entry is key, alongside audit committees and shareholders being more open to PIEs using a broader field of players.
Exclusive AUDIT AND ASSURANCE FACULTY Addressing corporate fraud risks
  • Jul 2023
  • ICAEW
  • Audit and Beyond
Audit committees share their knowledge, experience and concerns around fraud risks in ICAEW’s second report on sharpening the focus on corporate fraud. Katharine Bagshaw shares some insights.
How do audit committees perceive corporate fraud risks?
  • May 2023
  • ICAEW Insights
ICAEW’s Audit and Assurance Faculty considers audit committee perspectives on corporate fraud and how it can be better prevented and detected.
How businesses approach fraud risk: the audit committee view
  • Jan 2023
  • ICAEW Insights
What are the key factors behind the emergence of fraud risks and how should organisations ensure their controls are fit for purpose? Two experienced audit committee chairs provide their thoughts.
CIPFA backs independent local authority audit committee members
  • May 2022
  • ICAEW Insights
New guidance issued by CIPFA recommends that local authority and police audit committees include at least two independent members.
Ukraine crisis: where does your auditor stand?
  • Mar 2022
  • ICAEW Insights
Understanding your auditor’s Russian trading position is key to audit committees managing potential reputation and sanction risks, experts warn.
Audit quality in question
  • Feb 2022
  • ICAEW Insights
Some audit committee chairs are struggling to distinguish between a good quality audit and a good quality of service from an auditor, new research has found.
How to reflect climate risks in the financial statements
  • Dec 2021
  • ICAEW Insights
As the 2021 reporting season approaches, businesses increasingly face questions from investors about how their accounts reflect climate-related matters. Here’s how businesses, audit committees and auditors can address them.
Audit quality: how to raise the bar
  • Apr 2021
  • ICAEW Insights
The long-awaited government consultation paper on changes to the corporate governance and audit system is expected to advance the debate around audit quality. But what steps can and should audit committees, audit regulators, investors and auditors in the UK take now to improve audit quality?
Local government governance failures provide insights for councils and their audit committees
  • Mar 2021
  • ICAEW Insights
Research from Grant Thornton on recent public interest reports by local auditors contains useful lessons for local authorities on the importance of good governance and strong financial controls.
AUDIT AND ASSURANCE FACULTY Improve your organisation's level of assurance
  • Sep 2019
  • Internal Audit Panel
ICAEW’s Internal Audit Panel has identified eight risk areas where boards and audit committees should be asking themselves whether they are receiving the objective assurance they need amid increased public scrutiny.
Exclusive CORPORATE GOVERNANCE COMMUNITY How do you know if your audit committee is effective
  • Jul 2019
  • Tom Quincey, David Alexander
  • Corporate Governance Community Newsletter
Audit Committees are playing an increasingly critical corporate governance role in terms of their leadership on financial reporting, internal controls, risk management and the internal and external audit functions.
BEIS committee discusses audit reform with challenger firms
  • Sep 2018
MPs keen to explore how policy makers can help to deliver a more trusted and diverse audit market
CORPORATE GOVERNANCE COMMUNITY 9 Traits of an effective Audit Committee
  • Sep 2018
  • Corporate Governance Community
  • Corporate Governance Community Newsletter
Having an effective Audit Committee is essential for good corporate governance as it leads on financial reporting, internal controls, risk management and external audit functions.
Exclusive CORPORATE GOVERNANCE COMMUNITY Whistleblowing and the Audit Committee
  • Mar 2018
  • Corporate Governance Community
  • Corporate Governance Community Newsletter
Having a trustworthy whistleblowing process in place has become increasingly important as more and more high profile whistleblowers come to prominence in the media.
Exclusive CORPORATE GOVERNANCE COMMUNITY Part 2 - internal audit for directors
  • Sep 2012
  • Mark Stock
  • Corporate Governance Community Newsletter
In the second part of this series, Mark Stock now considers some questions that boards and audit committees might ask about their internal audit and compliance functions.
Displaying 1-23 of 23 results