The eight domains of your extended responsibilities
- Finance & Accounting
- Statutory Audit
- Internal Audit
- Internal Control
- Risk Management
- Compliance
- Ethics, Fraud and Corruption
- Non-Financial Information
Important questions to ask yourself
What ?
What information do we obtain ? What kind of work do we do ? What does the board expect from us ? What is the deliverable ?
How ?
How do we meet ? How do we study the topics ? How do we assess risk ? How do we report to the board ?
With whom ?
Who do we invite at our meetings ? Who do we supervise within the company ? Who are our stakeholders ? Who do we challenge ?
When ?
When do we meet and for how long ? When do we respond to events ?
Governeo assists you in studying the 8 areas of responsibilities of the audit committee as well as in the reflecting on the 4 questions above.
They also trusted us
Issue
I noticed that the areas of intervention of our audit committee are increasing. The regulator and the board of directors delegate a greater variety of matters to us. Do we have the right skills to deal with all of these new issues?
Action
With Governeo, we made an inventory of matters that fall under the audit committee’s responsibility, and some of them were clearly overlooked by us. We set up some familiarization and learning workshops on certain topics such as risk mapping, financial control, whistleblowing, etc.
Benefits
Our work is punctuated by an annual “meeting planner” which leads us to cover all matters in a methodical way. Our improved skills in certain subjects allows us to work more in accordance with the requirements of the board of directors and the regulatory authorities.
