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DCPAS CPE Day Panel Discussion on Public and Private Company Audit Trends May 26, 2011 www.pwc.com.

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Presentation on theme: "DCPAS CPE Day Panel Discussion on Public and Private Company Audit Trends May 26, 2011 www.pwc.com."— Presentation transcript:

1 DCPAS CPE Day Panel Discussion on Public and Private Company Audit Trends May 26, 2011 www.pwc.com

2 PwC Agenda I.Audit Committee Effectiveness A. Standardized Framework a. Example B. Assessing Financial Expertise a. Example C. Self Evaluation Surveys/Questionnaires a. Example D. Audit Committee Activities/Meetings E. Communications with Internal and External Auditors II.Tone at the Top A. Risk Assessment a. Practices b. Procedures B. Code of Conduct III.Crisis Management A. Where was the Board and Management B. Preparing and Testing a Plan of Action C. Individual Members D. Committee as a Whole E. Legal Counsel F. Senior Management G. Public Relations 2

3 Audit Committee Effectiveness Standardized Framework www.pwc.com

4 Audit Committee Effectiveness Assessing Financial Expertise www.pwc.com

5 Audit Committee Effectiveness Self Evaluation Surveys/Questionnaires www.pwc.com

6 Audit Committee Effectiveness Audit Committee Activities/Meetings www.pwc.com

7 Audit Committee Effectiveness Communications with Internal and External Auditors www.pwc.com

8 Tone at the Top Risk Assessment www.pwc.com

9 Tone at the Top Risk Assessment Practices www.pwc.com

10 Tone at the Top Risk Assessment Procedures www.pwc.com

11 Tone at the Top Code of Conduct www.pwc.com

12 Crisis Management www.pwc.com Where was the Board and Audit Committee

13 Crisis Management www.pwc.com Preparing and Testing a Plan of Action

14 Crisis Management www.pwc.com Individual Members

15 Crisis Management www.pwc.com Committee as a Whole

16 Crisis Management www.pwc.com Legal Counsel

17 Crisis Management www.pwc.com Senior Management

18 Crisis Management www.pwc.com Public Relations

19 PwC Closing remarks

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