Insights and highlights from the 2019 KPMG Board Leadership Conference, including the economic and geopolitical outlook; the CEO perspective; board engagement in strategy; technology, digital disruption,
data risk, and privacy; long-term performance; shareholder versus stakeholder primacy; talent, diversity, culture, the workforce of the future; and hot topics for board committees.
The top geopolitical risks for 2019, according to Eurasia Group, include the sowing of “bad seeds” for the future, the ongoing trade showdown between China and the United States, an increasingly challenging cyber battle, European populism, and several country-specific developments.
As an increasing number of firms are driven by intangible, knowledge-based assets and are more frequently funded through private investors, accounting choices are expected to play a more significant role in a company’s success.
KPMG’s report from the 2017 AICPA Conference on Current SEC and PCAOB Developments includes a discussion of the regulatory priorities of new SEC leadership, insight on ongoing implementation efforts and preparation for new accounting standards, and expectations for disclosure and auditing in the future.
Many audit committees are taking a closer look at their interactions with management’s disclosure committee, including their understanding of its operations—particularly how controls and procedures are updated in light of changing and expanding disclosure requirements.