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Foreword

The first edition of 2017 of our Audit Committee
Institute Quarterly kicks off with flagging ACI’s
priority items for audit committees and boards in
carrying out their 2017 agendas and to help them
keep their eye on the ball.

This is followed by an introduction to our new
Audit Committee Handbook. Our Audit Committee
Handbook is an all-in-one reference on audit
committees, articulating the principles underlying
the audit committee’s role and providing a vast
amount of non-prescriptive guidance to help audit
committees and boards carry out their oversight
responsibilities.

Next we bring the results of our 2017 Global Audit
Committee Survey. Our survey aimed at polling
what the challenges and priorities are for audit
committees today and the results clearly showed
that, against a backdrop of heavy economic and
geopolitical uncertainty and in times of unseen
technological change, risk management is the
number one concern of audit committees.

We also zoom in on how the two major geopolitical
events of the year—the UK Brexit and the U.S.
Trump vote—are impacting financial reporting. We
flag a set of attention points to make sure your
company properly discloses the main effects of
these events in the 2016 annual reports.

The sixth article in our newsletter is a piece on
directors’ liability. This important theme for board

© 2017 KPMG Central Services, a Belgian Economic Interest Grouping (“ESV/GIE”) and a member firm of the KPMG network of independent member firms affiliated with KPMG International
Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in Belgium.