Adding value: Perspectives on the audit committee’s dynamic role

July 2021

Audit committee chairs were amazed by the success their companies and boards displayed as an unprecedented crisis upended well-established processes. As offices reopen and boards resume in-person meetings, audit committees must choose which legacy practices to resume and which new approaches to maintain. They also face a changing landscape that is causing them to rearrange their agendas and even question what mix of experience and skills is most necessary for the future success of the committee.

From May 13 to June 25, 2021, Tapestry Networks convened six virtual meetings with the audit committee chairs of approximately 100 large US public companies to exchange views on how audit committees can maximize the value that they deliver to their companies and boards. 

This ViewPoints synthesizes discussions about three key topics that emerged in the meetings:

  • Adapting board and audit committee processes
  • Reshaping audit committee agendas
  • Enhancing committee composition