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Publications, Surveys and Resources
This section provides a library of publications, surveys and other resources that we believe may be useful to audit committee members, other directors and financial executives. The materials encompass many areas for audit committee oversight, such as financial reporting transparency, financial restatements, and overall risk management as well as specific risk areas including tax, information technology, earnings management, and fraud.
New Audit Committee Member/Director Onboarding
Published by: Audit Committee Institute Canada, December 2011
Developed by KPMG’s Audit Committee Institute, this white paper was designed as a resource to help support the onboarding process of new audit committee members.
A number of materials, topics and key conversations are highlighted, including:
- Valuable background reading;
- Suggested orientation sessions; and
- Possible issues to be discussed with the CFO, chief accounting officer/controller, chief risk officer, CEO, and others.
Ten To-Do’s for Audit Committees in 2011
Published by: Audit Committee Institute, February 2011 Canada
In this annual memo to directors, KPMG's Audit Committee Institute highlights 10 items for audit committees to keep in mind as they consider—and carry out—their 2011 agendas. From number one, "Keep your eye on the ball: financial reporting and related internal control risk," to number 10, "Make time to review and discuss the new Report of the NACD Blue Ribbon Commission on The Audit Committee," the Ten To-Do's point to key issues that every audit committee should have on their radar as they help guide their companies forward in an uncertain economic environment and a new regulatory landscape."
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Ten To-Do’s for Audit Committees in 2010
Published by: Audit Committee Institute June 2010 Canada
Reprinted from the 2010-01 issue of Canadian Audit Committee Update, this article highlights for audit committees ten to-do’s that may serve as a starting point for reviewing the committee’s agenda and workload for the upcoming year.
Canadian Surveys of Audit Committee Members
Published by: Audit Committee Institute annual Canada
Teaming with the Institute of Corporate Directors (ICD), the Audit Committee Institute conducts annual surveys of Canadian audit committee members.
Shaping the Canadian Audit Committee Agenda
Published by: Audit Committee Institute Canada
Designed as a reference source to assist audit committees in examining what they are doing, how they are doing it and how they can continue to enhance their effectiveness.
Accountability e-Lert
Published by: Audit Committee Institute occasional frequency Canada
Provides timely notification of new developments in Canadian corporate reporting and governance - and adds insights based on our knowledge and experience.
IT Governance - Where does the Audit Committee fit?
Published by: Audit Committee Institute Canada
The audit committee oversees many areas that are often highly dependent on the quality of information processed by computer systems, such as financial reporting and compliance with legal and regulatory requirements. This article investigates the audit committee's role in information technology governance.
The Governance of Tax
Published by: Audit Committee Institute Canada
The article, "Governance of Tax", is an abstract from the longer whitepaper from KPMG International. It explains how a company can turn its tax policies into competitive advantages through good tax management and by adopting clear, carefully considered communication of its tax affairs
Governance of Tax
Published by: KPMG International
The governance of tax is increasingly relevant to boards and audit committees as more investors and other non-owner stakeholders begin to include tax management in their evaluation of the effectiveness of corporate governance.
Tax in the Boardroom
Published by: KPMG International
This whitepaper is intended to stimulate discussion at the board level about tax and its oversight and management.
Confronting the 'Expectations Gap' Regarding Fraud Detection
Published by: Audit Committee Institute Canada
This article conveys the thoughts of leaders of six of the largest global audit networks regarding the future of financial reporting, the role of the auditor in detecting fraud, and stakeholders' expectations.
Fraud Risk Management: Developing a Strategy for Detection, Prevention and Response
Published by: KPMG International
This KPMG whitepaper provides an overview of fraud risk management fundamentals and spotlights critical practices that organizations have generally found to be effective when tailoring a business-driven anti-fraud program.
Oversight of Risk Management: What is the Audit Committee's role?
Published by: Audit Committee Institute Canada
As many audit committees understand, oversight of risk management is no simple matter. This article highlights why the audit committee should be concerned with risk management, considers who owns risk management oversight — the board or its committees — and looks at ways to coordinate risk oversight responsibilities.
Managing a Financial Restatement
Published by: Audit Committee Institute Canada
This article discusses financial statement restatements and provides an overview of a plan to manage the process when a restatement is necessary.
Confronting Earnings Management
Published by: Audit Committee Institute Canada
A contributing factor to the need for a financial restatement can be earnings management. This article examines the various pressures that may be exerted on management to engage in earnings management.
Achieving Financial Reporting Transparency
Published by: Audit Committee Institute Canada
This article addresses what it takes to achieve transparency in financial reporting. We provide audit committees with issues to consider when reviewing a company's financial reporting documents and assessing whether those documents stand up to the capital market's expectation for transparency
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