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Audit Committee Chairs: Tips for Effective Audit Committees

Host: TK Kerstetter Guest: Paula Loop, Leader, PwC's Governance Insights Center Following the 2008 adoption of Sarbanes-Oxley, the spotlight was shining brightly on the audit committee. Whether focused on overseeing audit section 404(b) or recruiting financial experts, all topics seemed to lead to the effectiveness of the audit committee. Fast-forward to today, and we’re seeing more attention paid to compensation, nominating & governance, or even emerging board committees. Yet, the audit committee remains at the core of board effectiveness. So how can today’s audit committee members and chairs ensure they’re setting themselves up for success? "The first place I’d start is to make sure you get a handle on the composition of your committee," said Loop. "Take into consideration things like succession planning…” In this episode, Loop outlines several aspects along which audit committee chairs can improve their performance–from executive sessions and succession planning to proxy disclosures and agendas.