Best Practices: Audit Committee - In-person
Elevate your organization's governance and risk oversight with our in-person Best Practices for Effective Audit Committees CPE Training. This two-hour session, designed for board members, senior officers, and audit committee professionals, provides actionable strategies to enhance fiduciary responsibilities, strengthen financial oversight, and mitigate risks. Learn from expert facilitators while earning 2 CPE credits in an engaging, interactive environment tailored to your industry.
Why Attend?
Earn 2 CPE Credits
This NASBA-approved training program awards 2 Continuing Professional Education (CPE) credits, integrating best practices into your professional development while meeting educational requirements.
Understand Key Audit Committee Responsibilities
Develop a strong grasp of your duties as an audit committee member, including financial reporting oversight, internal control evaluations, audit process management, and risk mitigation frameworks.
Tailored for Your Industry
Designed for professionals from sectors like banking, healthcare, non-profits, retail, and more, this seminar can be customized with industry-specific examples for private groups.
Gain Real-World Solutions
Explore strategies to adapt to evolving compliance standards, such as the Sarbanes-Oxley Act and emerging governance trends, ensuring your organization’s success in a rapidly changing business environment. The instructor is an active audit committee member for an organization with $800 million in revenue.
What You’ll Learn
This program equips participants with practical knowledge across the key areas of audit committee operations and governance. Real-world insights are paired with actionable takeaways to empower attendees in their leadership roles.
Key takeaways include:
- Oversight Responsibilities: Understand your role in fiduciary responsibilities, including financial reporting and internal controls.
- Governance Frameworks: Implement strategies for corporate governance and audit efficiencies through audit committee charters, oversight of audit processes, and risk management.
- Fraud Prevention and Compliance: Identify gaps in internal controls, mitigate risks, and encourage a culture of compliance.
- Professional Relationships: Develop productive collaborations with external auditors and internal audit teams.
Course Agenda
This in-person event features expert-led discussions, engaging case studies, and hands-on learning to ensure mastery of audit committee best practices.
Session Highlights:
- Comprehensive introduction to an audit committee’s scope and purpose.
- Developing governance documents, such as effective charters.
- Advanced techniques for risk management and oversight, including fraud detection and financial risk assessments.
- The relationship between audit committees and external auditors—including a review of PCAOB Auditing Standard #16.
- Updates on compliance requirements, including key provisions of the Sarbanes-Oxley Act.
- Practical approaches to audit committee self-assessments and fostering ethical governance within the organization.
Who Should Attend?
This training is relevant for:
- Audit Committee Members and Board Directors working to strengthen their governance capabilities.
- Senior Officers ensuring proper internal controls and mitigating organizational risks.
- Advisors to Audit Committees seeking to optimize oversight frameworks.
Whether you're a seasoned audit committee professional or new to the role, this seminar offers valuable tools to guide your organization toward stronger oversight and accountability.
Event Details
- When: Mondays, 3 p.m.–5 p.m. in-person (2-hour session)
- Where: Various cities, customized for private groups available.
- CPE Credits: Earn 2 credits (50 minutes of instruction per credit)
- Price: $190 per attendee
Why Audit Committees Matter
Audit committees are critical for ensuring effective corporate governance and reducing vulnerabilities to risk and fraud. By mastering these best practices, committee members play a vital role in building transparency and maintaining stakeholder trust. Effective management of fiduciary responsibilities enhances oversight and accountability within an organization, paving the way for sustained success.
This program ensures you are well-equipped to handle the challenges of modern governance, from navigating new regulations to fostering ethical conduct.
Register Now
Take the next step in optimizing your governance capabilities with our in-person Best Practices for Effective Audit Committees CPE Training. Gain industry-specific insights, enhance organizational oversight, and build confidence in your fiduciary responsibilities.
Sign up today to strengthen your ability to protect your organization while contributing to its success.
Reserve your spot now and become a leader in audit committee excellence!
Details on Event Presentation
Being offered on Mondays at 3:00 p.m. to 5:00 p.m. for the 2 CPE event.
We can schedule private events on your timetable for two or more attendees.
CPE Event Highlights
The purpose of this seminar is to provide each attendee with a high-level understanding of the Audit Committee's major fiduciary oversight and responsibilities concerning:
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Financial Closing and Reporting Process
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Risk Management Process
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Internal Control over Financial Reporting (ICFR)
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External Auditor Services
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External Accounting and Internal Audit Services
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Key Governance Controls
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Alternative Communication Controls
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Special Investigations
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Audit Committee Management and Reporting Responsibilities
Best Practices for the Audit Committee was developed from numerous sources of authoritative information on the function. Please refer to the following webpage for a summary of these sources
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Learning Objectives
What you will hear at this seminar is:
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The most important recent developments for audit committees
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The governance role of the Audit Committee
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Effective oversight of Internal Control over Financial Reporting (ICFR)
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Effective oversight of the external auditor
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External Accounting and Internal Audit Services
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Key Governance Controls
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Alternative Communication Controls
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Special Investigations
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Audit Committee Management and Reporting Responsibilities
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Key Issues on the Agenda
Introduction
Section 1 - What defines an audit committee?-
What is an audit committee?
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Boards and sub-committees
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Audit committee charter
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Good corporate governance
Section 2 - The Influence of an Audit Committee-
Audit committee responsibilities
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Attributes of audit committee directors
Section 3 - Audit Committee Challenges-
The "Enron" approach
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Dependence on expertise and integrity
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Quality of auditor services
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Compliance programs
Section 4 - Risk, Fraud and Internal Control-
Does the organization have weak controls?
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Tone at the top
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What is internal control?
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COSO 2013
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Financial statement risk
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"Risk Management"
Section 5 - Impact of the Sarbanes-Oxley Act-
Sarbanes-Oxley Act
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Public Company Accounting Oversite Board (PCAOB)
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Management's certifications
Section 6 - Financial Statement Review
Building knowledge
"Materiality" and "Misstatements"
Financial statement estimates
Section 7 - Managing the Relationship with Auditors
- PCAOB Auditing Standard # 16
- Management vs. auditor responsibilities
- Evaluating auditor capabilities
- Why require Internal Audit?
- What Should an Internal Auditor Do?
Section 8 - Compliance and Ethics
- Responsibilities for ethical behavior
- "Culture of Compliance"
Section 9 - Audit Committee Reports and Assessments
- Audit committee self-assessment
Section 10 - Going Forward-
NASBA Program Disclosure
Program Level of Understanding: Basic
Prerequisites: None
Advance Preparation: None
Delivery Format: Group Internet Based
NASBA Field(s) of Study: Auditing
CPE Credits: 2, based on 50 minutes of instruction per hour
Summary of the Subject Matter
The CPE event "Best Practices: Audit Committee - In-person" focuses on providing comprehensive insights into the best practices for conducting in-person audit committee meetings. The event delves into the key considerations and protocols essential for ensuring the effectiveness and efficiency of audit committee meetings within organizations.
Key topics covered in this event may include:
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Meeting Agenda Design: Guidance on structuring a well-defined meeting agenda, emphasizing crucial areas of discussion and decision-making within the audit committee's purview.
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Risk Assessment and Oversight: Insight into the best practices for risk assessment and oversight, enabling the audit committee to fulfill its crucial function in mitigating organizational risks.
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Financial Reporting and Compliance Updates: Updates on financial reporting requirements and compliance standards, equipping committee members with the latest industry knowledge.
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Internal Controls Evaluation: Best practices for evaluating internal controls, ensuring robust governance and risk management frameworks.
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Communication and Collaboration: Strategies for fostering effective communication and collaboration among audit committee members, management, and external auditors.
By addressing these critical aspects, the CPE event aims to empower audit committee members with the knowledge and tools necessary to fulfill their responsibilities effectively, ultimately contributing to improved governance and risk management within their organizations.
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