Topical insights for Audit Committees.
Disruption can affect audit committees in different ways. In some cases - for example, cyber security - audit committees may need to become more knowledgeable and more vigilant in their oversight due to the rapid, ongoing evolution of the field. In other areas, such as oversight of reporting and compliance, it is their own approaches and processes that are changing, as complex standards up the regulatory ante.
In the three short documents we look at some of the issues arising from disruptive trends in technology, geopolitics and regulation.
Fraud is an elusive and cunning enemy that requires a risk-aware culture to keep it abeyance. When every employee and every business partner are vigilant and do business with integrity, fraud will subside. It is an objective worth aiming for.
A look at the people who commit fraud, the sorts of fraud they commit and the manner in which the frauds are detected.
Staying on the right side of consumer privacy, KPMG asked almost 7,000 consumers in 24 countries a series of questions to understand in what circumstances they felt comfortable or uneasy about the use of their personal data – to understand what is considered ‘crossing the line’.
Audits are changing significantly. The core goals remain but audit tools, execution and results are being transformed and expanded by new capabilities in Data & Analytics (D&A).
It is important for Audit Committees to stay on top of developments and satisfy themselves that the right questions are being asked and answered by their auditors. Some of these questions are being highlighted in this issue.
It's increasingly obvious that the role of the audit committee is changing. The different change drivers are identified in this publication and includes how audit committees are responding to them.
Ethics and integrity are fundamental to an effective governance framework. Questions and factors that boards of directors and audit committees could consider while looking to reassure themselves about their organizations’ ethical behavior and behavioral indicators are presented in this publication.
Audit committees have a critical role to play in ensuring that their organizations have robust cyber security defenses – not in understanding the minutiae of the technology involved, but in leading governance and policy.
Cyber security considerations for audit committees are identified in this issue.
As businesses develop their responses to the outcome of the UK referendum on continued EU membership, the business-as-usual of preparing financial reports and auditing continues. There are some immediate accounting and reporting implications to consider when preparing half-yearly and annual financial reports.