A Chief Audit Executive’s Checklist for Getting Boardroom-Ready

As more financial and compliance activities call for increased oversight, countless other disclosures demand rigorous scrutiny. These can include mandatory or voluntary standards and frameworks (such as the EU’s new climate disclosure mandate), as well as public comments and commitments that address customer and employee concerns around DEI and ESG.

How far should such disclosures go beyond what’s mandated? Will claims of sustainable products and services stand up against any allegations of greenwashing? Will assertions of fair workplace policies or cybersecure network systems pass muster in an environment of increasing risk?

These are the questions that audit committees must be equipped to answer at a moment’s notice, both inside and outside of board meetings. As the committee’s purview expands, so does the responsibility of the chief audit executive (CAE) to serve as the committee’s eyes and ears.

Because internal audit teams closely monitor a company’s governance, risk management and compliance processes, they’re in a prime position to help guide overall business strategy and serve as strategic advisers to the board.

This presents both a formidable challenge and a powerful opportunity.