Value of Audit: Dialogue with Investors

ICGN San Francisco Annual Conference

28 June 2016, 7:30AM - 2:30PM, PST San Francisco, California, United States

After hearing from investors in Frankfurt on 08 March, we took the discussion to the International Corporate Governance Network’s (ICGN) San Francisco Annual Conference on 28 June where Scott Marcello, Vice Chair Audit for KPMG in the US and Mark Vaessen, Global Head of IFRS, KPMG International hosted a session with audit committee chairs and investors on enhancing the value of audit for investors, and what investors and audit committee chairs want to know about audit quality. In a second session, Scott moderated an investor panel on the current reporting framework and how emerging topics such as cyber security, covering non-financial performance measures adequately, and the impacts of climate change or diversity fit into the reporting paradigm. In addition, Global Head of Audit, Bill O’Mara participated in a plenary session focused on audit quality.

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Breakfast debate (Invitation Only): Tuesday 28 June 2016: 7:30am – 8:45am

Investor Perspectives about the roles of audit committees and auditors

Effective financial reporting and financial stewardship of any large company involves quality interactions among five participant groups: management, the audit committee, internal audit, the external auditor and the investors.  This roundtable discussion will delve into the respective roles and responsibilities of audit committees and external auditors.  

Hosted by Scott Marcello, Vice Chair Audit for KPMG in the US and Mark Vaessen, Global Head of IFRS, KPMG International


KPMG Workshop – Tuesday 28 June 2016: 12:00pm – 1:30pm

Enhancing disclosures. Expanded information: The role of ‎non-GAAP measures, traditional operating metrics, and emerging sustainability reporting concepts such as climate change.

What improvements are investors looking for in the current corporate reporting framework to obtain more insights into areas of heightened risk, application of significant management judgment and sustainability of business models for the medium and longer-term of the companies they invest in?

Hosted by Scott Marcello, Vice Chair Audit for KPMG in the US


Plenary 4 – Tuesday 28 June 2016: 1:30pm – 2:30pm

Enhancing the value of corporate reporting and audit

Investors play an important role in driving improvements in audit quality in the institutions in which they invest through purposeful engagement with audit committees. To what extent does the corporate reporting and auditing architecture help or hinder this role? How have investors responded in the US to the SEC’s concept release on audit committee disclosures and how might new rules on audit firm rotation in the EU, impact on audit quality as companies manage the retendering and rotation process.

KPMG represented by Bill O’Mara, Global Head of Audit, KPMG International

Speakers Guide

For more information, visit the ICGN San Francisco Annual Conference website.