2012 Audit Committee Roundtable Series - Is Governance Keeping Pace?PDF
The Ritz-Carlton, Charlotte
201 E. Trade Street
Charlotte, North Carolina
Patrick S. Bryant participated in KPMG’s Spring 2012 Audit Committee Roundtable Series – Is Governance Keeping Pace? In light of the dramatic, ongoing changes and uncertainties in the business and risk environments—globalization, regulation, emerging technologies, organizational changes, and more—a key concern for audit committees and boards today is whether the company’s governance is keeping up with the complexity and pace of global business.
Drawing on survey findings and insights from KPMG’s recent 2012 Audit Committee Issues Conference, the Spring Roundtable Series highlighted the governance challenge from a number of perspectives, including:
- Understanding whether “core governance processes” – board oversight, strategic planning and execution, risk management, and internal controls (financial, operational, compliance) – are keeping pace with the dynamic business environment.
- Developing a “single view” and an integrated approach to governance that addresses the critical business issues confronting companies today.
- The role of the audit committee/board in setting expectations for an integrated governance approach that connects with strategy and addresses the complexity, pace, and uncertainty of the global business arena.
The panelist also provided updates on legal/regulatory issues and audit/accounting developments that every audit committee should have on its radar.