As part of its third Audit Committee Practices Report: Common Threads Across Audit Committees, a survey of nearly 300 audit committee members, Deloitte’s Center for Board Effectiveness and the Center for Audit Quality found 69% of respondents listing cybersecurity as a top-three priority over the next 12 months. However, it is not alone among issues that are set to challenge audit committees in the immediate future. We spoke with Krista Parsons, audit & assurance managing director, audit committee program leader, and governance services leader for Deloitte’s Center for Board Effectiveness; and Vanessa Teitelbaum, senior director, professional practice, for the Center for Audit Quality, about the many challenges presently facing audit committees.
Directors & Boards: According to the Deloitte/CAQ Audit Committee Practices Report: Common Threads Across Audit Committees, what do audit committees believe will be their top priorities over the next 12 months?
Krista Parsons: Cybersecurity remains the top priority overall for audit committees as technology continues to evolve at a rapid pace and cyber threats pose a greater risk in business and society. Enterprise risk…
