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Canadian Audit Committee Update
Issue 2009-01
In Current Issues Dominating the Audit Committee Agenda, we share highlights from the Audit Committee Issues Conference held by the Audit Committee Institute in February 2009.The summary report of the conference, Setting the 2009 Agenda, focuses on critical areas of audit committee focus—including managing through the current economic challenges, the nature of oversight today, overseeing risk, and the changing governance landscape—and notes related practices and insights as discussed by 150 audit committee members and governance luminaries attending the forum.
Obviously, 2009 will mark a critical inflection point for governance and oversight. Audit committee agendas will be notable not only for what's on the agenda, but also for how those agendas are carried out.
In Financial Reporting Updates, we outline significant regulatory, accounting, and auditing rules, standards, and projects issued since our last 2008 issue of Canadian Audit Committee Update.
Finally, Audit Committee Evolving Issues focuses on the intersection of two complex processes for management—maintaining effective disclosure controls and procedures, and internal control over financial reporting, while successfully managing the changeover to IFRS. The accompanying questions are intended to help an audit committee not only to think about the areas that it may need to explore and probe with management, but also to reflect on the committee's own activities in overseeing these processes.
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Read the Audit Committee Institute publication Canadian Audit Committee Update Issue 2009-01
File Name: ACUpdate2009_01_WEB.pdf File Size: 448kb |
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