Looking ahead: The audit committee agenda in 2024
Many wise people have noted the importance of planning. For example, Benjamin Franklin stated, “By failing to prepare, you are preparing to fail.” Abraham Lincoln said, “Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” And, of course, Yogi Berra said: “If you don’t know […]
Maureen Bujno is a Managing Director, Bob Lamm is an Independent Senior Advisor, and Krista Parsons is an Audit & Assurance Managing Director and Audit Committee Program Leader at Deloitte Touche Tohmatsu Limited. This post is based on a Deloitte memorandum by Ms. Bujno, Mr. Lamm, Ms. Parsons, Carey Oven, and Jamie McCall.
Many wise people have noted the importance of planning. For example, Benjamin Franklin stated, “By failing to prepare, you are preparing to fail.” Abraham Lincoln said, “Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” And, of course, Yogi Berra said: “If you don’t know where you are going, you’ll end up someplace else.”
These adages certainly apply to the audit committee. Planning ahead can help ensure that the required items are on the agenda for each meeting and that over the course of the year the committee addresses everything on its “to do” list, while leaving time to tackle new matters that invariably come up.
To advise audit committees on planning for 2024, we have considered some of the major items that we believe are likely to be on audit committee agendas this year.
