The challenges
- The board of directors is more demanding with regard to the audit committee
- The fields of intervention of the committee are wider and deeper
- The knowledge and skills of the audit committee members are stretched
The objectives
- Evaluate the functioning of the committee
- Meet the expectations of the board of directors and the requirements of the regulator
- Improve the mechanisms and functioning of the audit committee
The method
- Development of a tailor-made questionnaire
- Self-assessment by each member of the audit committee
- Collaborative elaboration of an action plan under the control of the chairperson
- Annual check on the progress of the action plan
The results
- Evaluation of the functioning of the committee in relation to the expectations of the board
- Diagnosis of the audit committee in relation to laws and regulations
- Progression on the maturity curve
- Implementation of a multi-annual action plan
- Training or coaching
They also trusted us
Issue
As the chairwoman of an audit committee, I tend to schedule meetings according to a traditional agenda that works for all of our committee members. Due to a lack of curiosity and objectivity, I fear that our meetings are not up to scratch.
Action
The self-assessment process offered by Governeo generated a rich dialogue with the various stakeholders. We co-built new tools and working methods with the board of directors and the audit committee.
Benefits
Not only does our audit committee feel that it is working more consistently and efficiently, but the board of directors is assured of a more complete and compliant work.
