Setting the Audit Committee Agenda Questionnaire

Good business leaders are aware that the world is changing–dramatically. This questionnaire is for executive management, boards of directors and their audit committees to help ensure their organizations are ready to address change. It also addresses management’s perspective on the audit committee’s agenda and lists challenges and business-facing mandates for audit committees to assess.

Example questions include:

• Has the audit committee made sufficient progress dealing with the agenda items referred to in this issue as “unfinished business?” If not, should the items be placed on the committee’s (insert year) agenda?
• Is the audit committee satisfied with management’s plan to drive sustainability, cost-effectiveness and value-add of SOX compliance?
• Has the company formed an internal audit function that is adequately resourced, effectively positioned to maximize objectivity, and properly focused on assisting with risk management and internal control evaluations?