Australia

Details

  • Service: Audit, Audit Related Services, Audit Committee Institute
  • Type: Survey report
  • Date: 28/03/2014

Global Audit Committee Survey

Global Audit Committee Survey
Our annual survey identifies broad international trends and provides country data on audit committee challenges and concerns in different geographies.

Global Audit Committee Survey 2014 

KPMG’s Audit Committee Institute surveyed some 1,500 audit committee members in more than 34 countries around the world on a range of timely issues.
Global Audit Committee Survey 2014 cover
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The issues included:

  • the audit committee's workload
  • risk and information quality
  • CFO and the finance organisation
  • corporate performance
  • internal audit.


Our survey identifies broad international trends and provides detailed country data on audit committee challenges and concerns in different geographies.

 

Key findings

  • Audit committees say it is becoming increasingly difficult to oversee major risks in addition to financial reporting, given the committee's workload and expertise.
  • About one in four said their board has recently reallocated or rebalanced risk responsibilities, created a new committee to address specific risks, or may consider doing so in the near future.
  • For Australian audit committee members, uncertainty and economic volatility, the pace of technological change and possible disruption to their business model are cited as key challenges.
 

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Audit Committee Institute

Audit Committee Institute
KPMG established the Audit Committee Institute to help committee members keep up with relevant business issues and enhance practices and processes.