On April 27, we experienced a board meeting simulation at Together, a social-profit association dedicated to the hosting of migrants in Brussels.
At the end of the meeting, we debriefed on success factors, pitfalls, complexity of the topics, and time management… all issues we are regularly confronted with.
Set the goal of challenging auditors to better understand their work and improve the overall quality of their certification. This is one of the roles of the audit committee as outlined by the Financial Reporting Council (UK) in a January 2022 study.
This study, which gives the floor to a wide range of Audit Committee Chairs, is particularly interesting because it is qualitative. Let us focus on one of the chapters: Challenging auditors and resolving conflicts. (See at the bottom of the article the link to the study).
The preparation of financial statements has become a routine process. This is not the case for non-financial matters. Companies that are lagging behind in ESG must be prepared to answer sometimes embarrassing questions. This will be particularly the case in Europe with the gradual implementation of the directives on Corporate Social Responsibility and Taxonomy.
We ran a simulation of an audit committee meeting on March 31 with 10 participants of the #EMBA programme from @BMI Executive Institute in Vilnius (Lithuania).