What companies need to know about the role audit committees play

The audit committee is one of the busiest committees on the board and has a wide range of responsibilities beyond financial reporting oversight. So, as listeners prepare for year-end audit committee conversations, host Heather Horn talks to PwC’s governance leader, Paula Loop, about the role of the audit committee and how management can help facilitate their oversight responsibilities. Topics include:0:22 - Overview. Paula provides insights into the broad range of topics that keep audit committees busy.2:57 - The audit committee players. To meet the long list of responsibilities, the audit committee must possess a wide breadth of experience. Paula discusses the composition of effective audit committees.7:18 - Meeting effectiveness. Here’s where management teams and auditors can help. Paula gives practical tips for how to prepare more effective and efficient meeting materials.10:41 - Key issues. How does the audit committee stay on top of its many agenda items? Paula explains.14:15 - New topics. Heather and Paula discuss trending areas that may be moving higher on the committee’s priority list.About our guestPaula Loop is the leader for PwC's Governance Insights Center, dedicated to helping directors meet the challenges of their critical roles. Previously she served as PwC's NY Metro Regional Assurance Leader, leading one of PwC's largest assurance practices. Paula has served clients almost exclusively in the retail and consumer products industry, serving several multinational companies, employing her significant experience in dealing with operational, technical accounting, and SEC/financial reporting matters. About our hostHeather Horn is PwC’s National office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 25 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected].