2015 Global audit committee survey

Comparing data from 35 countries, KPMG’s survey findings offer insights that audit committees, management teams and auditors can use to sharpen their committee’s focus, benchmark its responsibilities and practices, and strengthen its oversight going forward.

Gain insights from this KPMG global survey report on audit committees.

Key findings:

  • Uncertainty and volatility, regulation and compliance, and operational risk top the list of challenges facing companies today
  • Audit committees want to spend more time on risk oversight — particularly cybersecurity and the pace of technology change
  • The quality of information about cybersecurity and technology risk, talent, innovation and business model disruption is falling short
  • More boards are reallocating risk oversight duties as the audit committee’s workload becomes more difficult
  • CFO succession planning is still a major gap, and many audit committees want to dive deeper into finance issues
  • Views on audit reforms are mixed; and while confidence in audit quality continues to be strong, there’s still room for auditors to offer more insight
  • A deeper understanding of the business, greater diversity of thinking, more open dialogue and IT expertise would most improve the audit committee’s effectiveness