Audit committees continue to face crowded agendas and increasing complexity as we look forward into 2021. Based on Protiviti’s interactions with boards of directors and their audit committees, we have developed an agenda with eight items for audit committees to consider for the coming year. The first four agenda items relate to enterprise, process and technology issues. The remaining four relate to financial reporting issues.
We discuss the significant issues that we believe warrant the attention of audit committees at most companies and organizations.
Topics We Will Cover:
- Review enterprise, process and technology risk issues slated for audit committee agendas
- Detail the financial reporting issues on the horizon for organizations
- Discuss why the audit committee is the final line of defense for ensuring quality financial reporting and financial statement audits
Chris Wright, from Protiviti’s New York office, is the firm-wide Managing Director of our Business Performance Improvement solution, which includes our Public Company Transformation and Financial Reporting Remediation and Compliance groups. Chris is also the Regional Managing Director for Protiviti’s Northeastern United States region. He has over thirty years of experience serving clients as an external auditor, including 6 years as a partner at two global accounting firms (Arthur Andersen and KPMG), and as an internal auditor and financial reporting risk consultant.
At Protiviti, Chris has provided internal audit out-sourcing and co-sourcing, Sarbanes-Oxley readiness and compliance services, and significant assistance to companies experiencing restatements, regulatory inquiries, stock compensation and other financial investigations and difficulties in implementing new accounting pronouncements, including revenue recognition and lease accounting. Chris earned his Bachelor of Science degree with a major in Accounting from Franciscan University and a Master of Science degree in Organizational Leadership from Quinnipiac University.
Chris serves on the boards of several charitable, civic, educational and business organizations. His work in Financial Reporting Remediation and Compliance has also involved a significant commitment to public speaking and the development and delivery of internal and external training.
Jim DeLoach has more than 35 years of experience and assists companies with responding to government mandates, shareholder demands and a changing business environment in a cost-effective and sustainable manner, including the integration of risk and risk management with strategy setting, business planning and performance management. Jim is one of the recipients of the “Top 25 Consultants” award from Consulting magazine in 2011. He was named to the National Association of Corporate Directors’ (NACD) Directorship 100 list from 2012 to 2018, recognizing him as one of the 100 most influential governance professionals in the boardroom community. In 2019, he was awarded the Bette Stead Leadership Award by Greater Houston Business Ethics Roundtable.
Jim has served on the COSO Advisory Council for 10 years contributing to the development of several frameworks, including the 2013 update to the Internal Control – Integrated Framework and the more recent Enterprise Risk Management Framework update. He has worked with and delivered numerous presentations on governance and risk management matters to hundreds of companies and groups in 30 countries. He writes The Bulletin quarterly and Board Perspectives: Risk Oversight monthly, Protiviti’s publications on governance-related issues as well as many of Protiviti’s Flash Reports. He publishes a monthly blog for NACD|BoardTalk and for Corporate Compliance Insights as well as contributes articles to Forbes CFO Network. He has written several books, including Enterprise-wide Risk Management: Strategies for linking risk and opportunity, which was published by Financial Times in June 2000 and was the first book written on the subject of enterprise risk management.