The audit committee’s role in overseeing risk and financial reporting is more important than ever in this evolving context, as organizations navigate increasingly complex reporting requirements and a shifting regulatory landscape. Effective oversight requires committee members to stay up to date on these changes while understanding how emerging risks may impact the organization. It highlights five areas of focus—financial reporting and controls; enterprise risk management; environmental, social, and governance; cyber risk; and digital finance transformation— that likely will be recurring topics of discussion for audit committees in 2022 (Deloitte, 2022)

This programme aims to keep directors attuned to megatrends that may impact the outworking and discharge of responsibilities by audit committees. Such trends include the publication of transparency reports, tax governance, internal audit on ethics as well as Environmental, Social and Governance. Participants can translate the key trends identified and shape priorities that would allow them to take actionable measures in managing governance, control and risk matters within their respective organisations.

Virtual Classroom Format
Interactive Facilitated Learning
Who is this Programme For

Targeted but not limited to New Directors to Mid-Level Directors and Audit Committee Members

What You’ll Learn
  • Identify contemporary issues and megatrends that are enveloping audit committees
  • Recognisepriorities for audit committees in steering forward
  • Develop and Apply actionable measures that can help enhance the outworking and functionalities of audit committees
ICDM Virtual Classroom
08 Nov 2022
9:00 AM - 1:00 PM
Krishman Varges, Yong Shen Wei & Darren Lee
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Tuesday | 8 November 2022
9.00amIntroduction and Programme Housekeeping
9.05am

Module 1 - Contemporary insights and megatrends on audit committee

  • The role of the audit committee in the “new normal”
  • Board audit committee’s 2022-2023 agenda
  • An analysis of the contemporary agenda items that are prevalent amongst the board committees of the top 100 Public Listed Companies in Malaysia
  • The newly revised Malaysian Code on Corporate Governance and its impact to the audit committee
9.35am

Module 2 - Deep dive into the key trends identified and future priorities for the audit committee

  • Staying focused on the fiduciary duties of financial reporting and related internal control risks— the “job number one”
  • Increased focus on ethics and compliance
  • Forging a working relationship with the external auditors
  • Internal audit risks & opportunities: culture, automation, financial controls, third-party risk management
  • Reviewing the Annual Transparency Report
  • Governing the audit committee: composition, succession planning, terms of reference and skill set mix
10.35amVirtual Break
10.50am

Module 3 - Unpacking the tax governance framework

  • Objectives and scope of tax governance framework
  • Participation in tax governance framework programme
  • Benefits of participating in tax governance framework
  • Roles and responsibilities
  • Control framework and control testing
  • Management of tax risks
11.25am

Module 4: Unravelling internal audit on Environmental, Social and Governance (“ESG”)

  • Role of internal audit function in ESG
  • The assurance function
  • Advisory role of internal audit function
  • Key audit areas for ESG
  • Internal audit methodologies
  • Auditing and monitoring
12.25pmA Conversation with the Audit Oversight Board
12.50pmSummary & Wrap Up
1.00pmEnd of Programme

The Organiser reserves the right to alter the content and timing of the programme as it deems fit and is not responsible for cancellations due to unforeseen circumstances.