KPMG - Annual Audit Committee Issues Conference 2009 report

KPMG - Annual Audit Committee Issues Conference 2009 report

Annual Audit Committee Issues Conference 2009 report

According to recent dialogue among 150 audit committee members, directors, and corporate governance luminaries attending KPMG’s 5th Annual Audit Committee Issues Conference, helping their companies get through the next 18 months is clearly job number one for audit committee and boards in the U.S. today. At the same time, the way they oversee financial reporting and related risk is very different than it was a year ago.

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Annual Audit Committee Issues Conference 2009 report
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Panel discussions and real-time survey results from two daylong sessions of the February conference (in Miami and Phoenix) clearly pointed to an increased intensity and vigilance in audit committee and board oversight. The dialogue also highlighted a renewed focus on the ‘basics’ — understanding the business, knowing the people who run it, having rigorous discussions about risk, and emphasizing accountability (of management and the board). In this hard-hitting report from the conference, we capture key insights and practical ‘how to’s’ as discussed by directors of top U.S. companies (including Aetna, AXA Financial, Chrysler, Dow Chemical, Ford Motor Company, JPMorgan Chase, Marriott International, Royal Dutch Shell, and Tiffany & Co.). Questions about the Audit Committee Issues Conference and the highlights publication can be directed to the ACI team at auditcommittee@kpmg.com.

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http://www.kpmg.com/Global/IssuesAndInsights/ArticlesAndPublications/Pages/Annual-Audit-Committee-Issues-Conf-2009-report.aspx
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This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.