Audit Committee Institute | KPMG | UK

Audit Committee Institute

The Audit Committee Institute (ACI) provides guidance and resources to audit committees, helping to facilitate the skills and knowledge required.

On the committee agenda

  • "The ACI’s aim is to support you in your role either as an audit committee member or chair. Everything from broad induction guidance when you first take on your role to technical updates, topical deep-dives and the implications of evolving regulation."

    Michelle Hinchliffe, UK Head of Audit – KPMG


    On the 2018 audit committee agenda report

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Audit Committee Institute

'In Non-GAAP measures: A roadmap for audit committees' the Center for Audit Quality (CAQ) sets out leading practices when assessing whether a company’s non–GAAP metrics present a balanced representation of the company’s performance.
CAQ

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Encouraging the reporting of misconduct Read

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Audit Committee Institute

Drawing on insights with audit committee chairs, here are ten things that audit committees should keep in mind as they carry out their 2018 agenda.

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Audit Committee Institute

Working together: 150 best practices shared by the most important people we work with – the ACI members themselves

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The audit report journey Read

Becoming an audit committee member Watch

Effective conversations: Questions for audit committees Question

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The value of audit

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The audit report journey

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Disruptive trends: Technology

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Disruptive trends: Geopolitics

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Disruptive trends: Regulation

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Brexit: Financial reporting considerations

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Becoming an audit committee member

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Surveys

Global audit committee survey

A global survey providing insights to help audit committees sharpen their focus, benchmark responsibilities and strengthen oversight

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Audit quality

UK audit committee members anonymously rate various aspects of audit quality for their organisation’s most recent financial year

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Auditor transition

UK audit committee members look at auditor transition, handover, business impact, the degree to which tender ‘promises’ had been delivered and the challenges of transition

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The risks and benefits of changing auditors

Regular audit tendering and rotation is now business as usual. This survey explores the perceived risks and benefits of changing the external auditor.

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Audit Committee Questions

Reviewing and assessing financial statements

Questions audit committees might ask when reviewing and assessing financial statements

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Accounting policies judgements and estimates

Questions audit committees might ask when considering accounting policies, judgments and estimates

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Narrative reporting and non-GAAP measures

Questions audit committees might ask when considering narrative reporting and non-GAAP measures

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Oversight of risk

Questions audit committees might ask when exercising oversight of risk

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Assessing internal control systems

Questions audit committees might ask when exercising oversight of internal control systems

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Fraud and whistle-blowing

Questions audit committees might ask when considering fraud risk and whistle-blowing processes

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External audit scope

Questions audit committees might ask when considering the scope of the external audit

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Assessing external audit effectiveness

Questions audit committees might ask when assessing external audit effectiveness

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Private sessions with the external auditor

Questions audit committees might ask when planning and executing their private sessions with the external auditor

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Internal audit scope

Questions audit committees might ask when considering the scope of the internal audit

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Assessing internal audit effectiveness

Questions audit committees might ask when assessing internal audit effectiveness

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Private sessions with the internal auditor

Questions audit committees might ask when planning and executing their private sessions with the head of internal audit

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Self-evaluation

Questions audit committees might ask when considering the effectiveness of the committee's performance

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Chairing the audit committee

A look at the characteristics of good audit committee chair

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Getting the right information

Questions audit committees might ask when considering the propriety of information flows and whether they have access to the right information

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Effective audit committee conversations

Questions audit committees might ask when considering the effectiveness of their audit committee conversations

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Audit Committee induction and onboarding

Questions to ask when considering the induction and onboarding of new audit committee members

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Tools and best practice

Resources that can be used by audit committees in preparing their own policies, procedures and disclosures

Audit Terms of reference

Terms of Reference for the audit committee (by kind permission of ICSA: The Governance Institute)

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Tender process

A short guide to getting real value from the audit tender process

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Audit tendering

A specimen audit committee statutory report on the audit tender process

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Non-audit services policy

A specimen non-audit services policy for a Public Interest Entity

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Meeting agenda

Pro-forma of an audit committee meeting planner to help board members plan and tailor what gets addressed at each meeting

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Private session

Questions intended to stimulate thought around the type of issues that could be raised with the auditor in a private meeting

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ACI Handbook

Access full handbook

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Global Network

Explore our international Audit Committee Institute network operating in over 40 countries

Who to contact

Michelle Hinchliffe
UK Head of Audit, KPMG
Tony Cates
Vice Chair, KPMG
Timothy Copnell
Board Leadership Centre, KPMG