Our revised Audit Committee Guide for Small and Mid-Size Quoted Companies, which is designed to assist audit committee members to be effective in their roles by meeting the expectations of investors and complying with best regulatory best practice, is now available to purchase.
Last published in 2009, the Quoted Companies Alliance Audit Committee Guide has been revised and updated to take into account the increased focus on the role of the audit committee in corporate governance, as well as risk management and audit quality. Key changes include:
- Greater emphasis on the audit committee’s role in enhancing trust in a company among shareholders;
- Updating to reflect the latest regulatory changes and the evolution of best practice;
- Integrating aspects of the Quoted Companies Alliance Corporate Governance Code for Small and Mid-Size Quoted Companies (QCA Code), published May 2013;
- Expanding on the roles and responsibilities of people involved in the work of the audit committee, placing greater emphasis on the role of its chairman;
- Expanding the section on the internal focus of the audit committee and emphasising the importance of risk management; and
- Reordering the content to reflect audit committee’s annual cycle of work, including the production of annual reports and accounts and liaising with external auditors.
The guide emphasises the important role that the committee plays in enhancing trust in a company and, ultimately, creating long term value for shareholders. Topics covered include the operational aspects of the committee; the roles and responsibilities of those on the committee and those that work with the committee; the internal focus of the committee on risk management and internal control; the external focus of the committee on the corporate reporting cycle; and the audit committee report in the annual reports and accounts.
Members should have received one free hardcopy of the guide. PDF and hardcopies are available to purchase here.
If you are interested in finding out more about what has changed in the guide and the key issues for Audit Committees in the coming year, join us at the launch event for this guide – Inspiring Trust: Exploring The New Audit Committee Guide – on 9 December 2014. You can book and find out more information about the event here.