On the 2025 audit committee agenda
Nine issues for audit committees to keep in mind as they carry out their 2025 agendas.
Audit committees can expect their company鈥檚 financial reporting, compliance, risk, and internal control environment to be put to the test in 2025. In addition to existing challenges鈥攆rom global economic volatility, the wars in Ukraine and the Middle East to cyberattacks, preparations for US and global climate and sustainability reporting requirements, and advances in artificial intelligence (AI)鈥攖he change in administration could have a significant impact on the business and risk environment that companies must navigate. Audit committees should take a hard look at their skill sets and agendas. Does the committee have the leadership, composition, and agenda time to carry out its core oversight responsibilities鈥攆inancial reporting and internal controls鈥攁long with the growing range and complexity of other risks?
Drawing on insights from our survey work and interactions with audit committees and business leaders, we highlight nine issues to keep in mind as audit committees consider and carry out their 2025 agendas:
- Stay focused on financial reporting and related internal control risks鈥攋ob number one.
- Clarify the role of the audit committee in the oversight of generative AI (GenAI), cybersecurity, and data governance.
- Understand how technology is affecting the finance organization鈥檚 talent, efficiency, and value-add.
- Reinforce audit quality and stay abreast of changes to PCAOB auditing standards.
- Monitor management鈥檚 preparations for new climate reporting frameworks/standards.
- Make sure internal audit is focused on the company鈥檚 critical risks鈥攂eyond financial reporting and compliance鈥攁nd is a valuable resource for the audit committee.
- Probe whether management has reassessed the company鈥檚 compliance and whistle-blower programs in light of the DOJ鈥檚 September Evaluation of Corporate Compliance Programs guidance.
- Stay apprised of tax legislative developments in Washington and the potential impact on the company and its operations.
- Take a fresh look at the audit committee鈥檚 composition and skill sets.
Dive into our thinking :
On the 2025 audit committee agenda
Nine issues for audit committees to keep in mind as they carry out their 2025 agendas.
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