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.
- 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.