Article:

Corporate Governance - A Practical Guide For Audit Committees

01 August 2017

The role of the audit committee is at the forefront of corporate governance in the UK. Although many of the requirements of audit committees are focused on companies with a premium listing on the London Stock Exchange, these are increasingly influencing best practice for other listed and mid-sized companies, including private equity investees.

BDO has produced a guide which provides practical assistance to, and identifies best practice for, audit committees of mid-market and smaller listed companies. It has been developed using feedback from interviews with audit committee members and people who work with them.

This guide will assist in establishing where the audit committee’s time should be best spent and discusses the composition of the audit committee and the skills and competencies of its members. It also covers the main responsibilities of the committee including the subjects of risk, the appointment of auditors and the oversite of the external audit process.

The chair of the audit committee is a vital position and we explore the role they should play in ensuring it is as effective as possible and the key relationships they should invest time in developing.

Download a copy of the guide and read more about audit committee obligations.