Strong Audit Committees: Complex Challenges, Fundamental Concepts

Executive Summary Gathering information each year to refresh our tutorial for Bank Director’s annual Bank Audit Committee Conference, certain high-performing characteristics always seem to work their way into the conversation.  While current events and trends should always inform audit committees’ thinking, the best performing committees are those that are not distracted from their essential tasks.  The audit committee’s synthesis of the events, risks, market forces, and the committee’s understanding of the bank’s operating processes and outcomes are key to the committee’s successful oversight.  Thoughtful, independent analysis of these complex and interconnected factors are essential for sound risk management decisions.  Here...