Audit committees play a key role in the governance and oversight of companies. They are central to establishing good internal controls and risk management systems as well as delivering quality financial reporting and instituting strong processes for the proper review of interested person transactions. The growing complexities of the business environment impose even greater demands on audit committees.

The Audit Committee Essentials programme comprises five, inter-related modules providing practical guidance and best practice examples for members of audit committees. The programme is centred around the acclaimed Guidebook for Audit Committees in Singapore issued by the Audit Committee Guidance Committee (ACGC) on 30 October 2008.

Each of the five modules in the series will be covered in a half day workshop, i.e. the full Series involves five half day workshops.

Module 5 Audit Committee responsibilities for overseeing Risk Management systems that extend beyond financial risks: examines the audit committees responsibilities in connection with enterprise wide risk management systems that go beyond the consideration of a company’s financial risks. The workshop provides an opportunity to discuss practical approaches that audit committees might consider when overseeing the introduction and assessment of the adequacy of risk management frameworks.