Audit committees have long been viewed as the foundation of a board’s governance structure, but dramatic changes in regulatory mandates and the risk landscape mean these committees must constantly evolve in order to stay ahead of the curve.
In this episode, Scott Flynn, Vice Chair — Audit, KPMG, discusses the importance of adapting to frequent shifts in the business environment and what audit committees should be thinking about to maintain efficient oversight of financials, risk and compliance.
- What skill sets will be most important for audit committee members going forward?
- What should the term be for an audit chair, and how should boards handle audit chair succession to ensure a smooth transition?
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