board members vs officers Audit Committee Transparency Barometer: Evaluating Key Disclosures

Host: TK Kerstetter
Guest: Erin Dwyer, Managing Director of Stakeholder Engagement & Communications, Center for Audit Quality

For the last five years, the Center For Audit Quality (CAQ) has published its Audit Committee Transparency Barometer, which benchmarks the voluntary disclosure provided by S&P 1500 audit committees. The annual report focuses on four overarching categories, including audit firm evaluation, audit firm selection, audit firm compensation, and audit partner rotation.

Erin Dwyer, Managing Director of Stakeholder Engagement & Communications with the CAQ, joins host TK Kerstetter to discuss highlights from the 2018 report. In which areas have audit committees been improving? What expectations do investors have when it comes to audit committee engagement?

“...almost all [audit committees] we speak to are doing annual external auditor evaluations,” said Dwyer, “so why aren’t they disclosing? It reminds me of the old adage, if a tree falls in the forest and no one is there to hear it, does it make a sound?...If the audit committee does an external evaluation, and they don’t disclose it, did it happen? Of course it happened, but there’s a value in reporting out to investors: ‘Yes, we did this. Yes, we’re taking our oversight duties and responsibilities seriously.’”

board members vs officers Audit Committee Transparency Barometer: Evaluating Key Disclosures
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Education	Upload TimePublished on 13 Nov 2018

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