Audit Committee Governance

Introduction

This course provides a comprehensive overview of audit committee governance, focusing on best practices, regulatory requirements, and strategic oversight for effective risk management and financial reporting.

Objectives

• Understand the roles and responsibilities of audit committees.
• Identify regulatory requirements and compliance obligations.
• Enhance oversight of financial reporting and risk management.
• Strengthen communication with internal and external auditors.
• Develop skills for effective audit committee leadership.

Course Outlines

Day 1: Foundations of Audit Committee Governance

• Overview of audit committee roles and responsibilities
• Key regulatory frameworks and guidelines
• Audit committee composition and independence
• Charter development and committee effectiveness
• Ethical standards and fiduciary duties

Day 2: Regulatory Environment and Compliance

• Understanding legal and regulatory requirements
• Sarbanes-Oxley Act and international standards
• Compliance monitoring and reporting
• Managing conflicts of interest
• Working with regulators and stakeholders

Day 3: Financial Reporting and Internal Controls

• Oversight of financial reporting processes
• Evaluating internal control systems
• Fraud risk assessment and prevention
• Reviewing financial statements and disclosures
• Responding to financial irregularities

Day 4: Risk Management and Audit Oversight

• Enterprise risk management principles
• Role in internal and external audit processes
• Assessment of risk appetite and tolerance
• Reviewing audit findings and recommendations
• Ensuring accountability and follow-up

Day 5: Effective Communication and Leadership

• Best practices for committee meetings
• Engaging with management and auditors
• Reporting to the board of directors
• Continuous improvement and self-assessment
• Future trends in audit committee governance