2020 Year End Audit Committee Agenda

2020 required companies to be adaptable and creative while addressing the challenges of COVID-19. 2021 promises further challenges for companies as they look to transition from perseverance to recovery. Directors can refocus and refine responsibilities in light of new risks and opportunities and to clearly communicate to stakeholders.

BDO has compiled a year-end snapshot of issues and select resources that audit committees will find helpful in addressing their oversight responsibilities and communications with management and auditors during the year-end audit cycle and related reporting as well as preparing for proxy and annual shareholder meeting season:

• Audit Committee Responsibilities on the Rise
• COVID-19 Impact on Risk and Financial Reporting
• Continued Focus on Audit Quality
• Evolving Disclosure Considerations
• Changing Workplace
• Technology Evolution
• Cybersecurity & Data Privacy
• ESG & Investor Priorities
• Total Tax Liability
• Adequacy of Insurance Coverage  

 

While the report is intended as a high-level reference, additional resources are available and include BDO’s Quarterly Technical Webinar Series and our annual newsletter highlighting the AICPA Conference on SEC and PCAOB Developments and recently released topical publications – all of which are or will be made available on the BDO Center for Corporate Governance and Financial Reporting.