FINANCIAL EXPERIENCE is in higher demand at the top of audit committees, according to a new study.
The proportion of retired or serving CFOs chairing audit committees of the top 200 FTSE companies has risen 50% in the past two years, according to Egon Zehnder International.
Last year 45 of the FTSE 200 audit committee chairs had CFO experience, compared to 31 in 2008.
Four-fifths of audit committee chairs had accountancy qualifications in 2010, it also found, up from 64% in 2004.
A higher proportion – 41% in 2010, up from 12% in 2004 – are chair of more than one audit committee.
“The increase in multiple chairs reflects how this is becoming a more specialist job,” said Andrew Roscoe, UK managing partner, Egon Zehnder International.
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