Board and audit committee oversight of corporate responses to the COVID-19 pandemic

Board and committee effectiveness, Boards and General Management, Board risk oversight

COVID-19 pandemic virtual call, April 2020

From March 30 to April 9, 2020, Tapestry Networks convened a series of virtual meetings with the audit committee chairs of more than 100 large US public companies, to discuss how boards and audit committees are responding to the COVID-19 pandemic. EY experts and senior leaders joined the audit chairs in these meetings.

Tapestry Networks published a special edition of ViewPoints on March 30 based upon similar meetings from March 24–26. This second special edition builds on concepts addressed in the first, synthesizing discussions about four trends and offering questions for reflection.

  • Liquidity and financial reporting continue to be front of mind for audit committees

  • Boards expect action against increasing cyber threats

  • Companies face a range of difficult workforce choices

  • Board oversight remains a balancing act