Critical audit matters, board oversight of risk, and geopolitical uncertainty

March 2019

Audit chairs are engaged with external auditors to prepare for reporting on critical audit matters (CAMs), which will be a required component in auditor’s reports for large accelerated filers whose fiscal year ends on or after June 30, 2019. At the same time, directors continue to focus on their enterprise risk management (ERM) programs and emerging risks, including risks created by the current geopolitical climate. Members of the Northeast Audit Committee Network (NEACN) discussed these topics on March 4, 2019 in Washington.

Members also discussed the US Securities and Exchange Commission’s request for comment regarding quarterly reporting, including the nature, content, and timing of earnings releases and quarterly reports. Tapestry will hold similar conversations on the request for comment with other networks and share the results separately.