Highlights from KPMG’s Board Leadership Conference, including the economic and geopolitical outlook, climate risk, the board-CEO relationship, corporate purpose, artificial intelligence, fintech, cybersecurity, oversight of human capital management, and more.
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.
Given their oversight roles, how can boards and audit committees help ensure that the company is getting the appropriate insights from data and analytics while taking the necessary precautions to protect the company, its employees, customers, and others?
The findings reveal a gap between what audit committees and CFOs want and what they get from internal audit. The biggest gap is in risk management. Only 22 percent of respondents said they get help assessing risks/risk management practices, while 57 percent said that would be most valuable.
Audit committee effectiveness clearly hinges on some fundamentals, including the right committee composition and dynamics; an up-to-date charter with well-defined responsibilities; a risk-based approach to setting the committee's agenda; an understanding of current and emerging issues; and proactive, engaged oversight beyond the boardroom.