Cranfield offers audit committee training

Link: Audit committees face NED shortage

The seminars will be hosted by the university’s school of management in conjunction with the KPMG sponsored Audit Committee Institute.

They will help NEDs understand the role and responsibilities of the audit committee, from the technical aspect to communicating with the main board and assessing the committee’s performance.

Recently, the Laura Tyson report on the recruitment and training of non-executive directors found that training was needed in this area, while a survey by KPMG found that 40% of NEDs felt they had insufficient knowledge of non-financial indicators.

Timothy Copnell, director of the Audit Committee Institute, said: ‘In light of increasing complexities in financial reporting and changes in shareholders’ expectations related to financial disclosures, it is imperative that audit committee members stay abreast of current developments. They must be in a position to ask the right questions and, more importantly, understand the answers the receive.’

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