Audit Committee's Role in Financial Reporting & Oversight Webinar (1 Hour)

Overview: 

In December 2019, the SEC published a Statement on the Role of Audit Committees in Financial Reporting and Key Reminders Regarding Oversight Responsibilities. The statement, by the Chairman, Chief Accountant and Director of the Division of Corporation Finance of the SEC, highlights observations and reminders in the areas of: Tone at the Top, Auditor Independence, Generally Accepted Accounting Principles (GAAP), ICFR, Communications to the Audit Committee from the Independent Auditor, and, more specifically, Non-GAAP Measures, Reference Rate Reform (LIBOR) and Critical Audit Matters. This webinar will explore:

  • The audit committee’s role and priorities
  • Potential changes in oversight
  • Areas of focus
     
Objective: 

This webinar will focus on the new guidance from the SEC, and discuss how it will impact the interaction between Chief Audit Executives, Heads of Internal Audit/Internal Controls, and other financial professionals with Audit Committee Members.

Emphasis: 
  • The Role of the Audit Committee
    – Financial reporting oversight
    – Risk oversight
    – Ethics and compliance
    – Oversight of audit (internal and external)
  • Audit Committee Priorities
  • How Audit Committee Oversight May be Changing
  • What We’re Hearing from Audit Committees—Areas of Focus
     
Bottom
Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
1.00
NASBA Field of Study: 
Accounting