China Boardroom Update - Ten To-Do's for Audit Committees in 2010

! China Boardroom Update Ten To-Do’s for Audit Committees in 2010 Issue 1 - February 2010 ADVISORY In 2009, the economic crisis placed tremendous stress on companies, alarming even the most experienced financial experts. Boards and audit committees guided companies through the crisis - monitoring financial forecasts by focusing on liquidity and cash management and assessing the company’s risk profile. As 2010 begins and both global financial and economic conditions are expected to improve, these monitoring strategies still take top priority. For companies that have survived the turbulent times, boards and audit committees need to take the lead in addressing key issues in the lingering volatile business environment. When considering and carrying out their 2010 agendas, audit committees should: ☑ 1. Regain control of the audit infrastructure such as IT and sales ☑ 4. Continue to monitor fair committee agenda. force? How far have we extended value issues, impairments, and the organisation through The challenges of the economic crisis management’s assumptions outsourcing and off-shoring? As -- access to capital, cash flow, underlying critical accounting companies cut costs and reduce counterparty risks, impairments -- estimates. their workforce, the control have dominated audit committee These issues, together with agendas. As signs of recovery environment becomes even more going-concern challenges, will emerge, take the ...