Insync offers a range of board, committee and individual director reviews that can be tailored to meet specific requirements. Our expertise and experience includes carrying out and overseeing over 200 board and committee surveys and evaluations for large ASX corporations, private companies, government entities and not-for-profit organisations.
Audit committees can demonstrate their leadership and commitment to good corporate governance and accountability to stakeholders by conducting an independent review of their effectiveness.
Most audit committees are responsible for overseeing:
All are important areas of oversight in most medium-to-large organisations and many boards rely heavily on the input and expertise of their audit committee accordingly. It's important for both board members on the audit committee and those not on the committee that a thorough review of the committee's effectiveness is carried out on a regular basis.
The purpose of the Audit Committee Effectiveness Survey is to identify actions which can be taken to improve the effectiveness of an audit committee's oversight.
Issues of the audit committee's structure, composition, meetings and reporting are also addressed. Committee members are taken through a comprehensive range of issues relevant to their oversight in a structured way.
The Audit Committee Effectiveness Survey benchmarks the effectiveness of audit committees against comparable organisations, whether they are public and/or private companies, government and not-for-profit entities.
An audit committee review can be undertaken by using the Audit Committee Effectiveness Survey, either separately or in conjunction with committee member and management interviews, reviews of committee charters, agendas, committee papers and minutes by experienced board and audit specialists.
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