Audit committee members typically take on a heavy workload and make decisions on complex and difficult issues. They are the board’s main interface with the external auditors and the destination for important and sensitive internal audit findings.
External advice and peer group interaction can help enhance audit committee performance.
KPMG has established an Audit Committee Institute (ACI) to help committee members keep up with relevant business issues and generally enhance audit committee practices and processes.
- conducts regular ACI Roundtables that function as a forum and ideas exchange for audit committee members
- publishes the findings of local and overseas surveys of audit committee practices
- produces an Across the board newsletter for audit committee members and other directors
- hosts special interest workshops (e.g. financial reporting requirements
- maintains a website, aci.kpmg.com.au.