Insight

On the 2020 audit committee agenda

Seven issues that audit committees should keep in mind as they consider and carry out their 2020 agendas.

On the 2020 audit committee agenda

Prioritizing a heavy audit committee agenda is never easy, and 2020 will be particularly challenging. The audit committee is operating against a backdrop of global volatility and economic uncertainty—e.g., mounting trade tensions, resurging debt, a looming market correction, geopolitical tensions, technology and business model disruption, cyber risk, regulatory scrutiny, investor demands for transparency, and political gridlock in the U.S., U.K., and elsewhere.  

Drawing on insights from our latest survey work and interactions with audit committee members and business leaders, we’ve flagged seven issues that audit committees should keep in mind as they consider and carry out their 2020 agendas:

  • Maintain (or regain) control of the committee’s agenda.
  • Reinforce audit quality and set clear expectations for the external auditor.
  • Closely monitor management’s progress on implementing FASB’s new credit loss standard.
  •  Redouble your focus on the company’s ethics, compliance, and whistle-blower programs.
  • Understand how technology is impacting the finance organization’s talent, efficiency, and value-add.
  • Reassess the scope and quality of environmental, social, and governance (ESG)/sustainability reports and disclosures.
  • Help ensure internal audit’s eyes and ears are focused on key risks beyond financial reporting.

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On the 2020 audit committee agenda
Seven considerations for audit committees as they shape their 2020 agendas.


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