Emerging from two years of pandemic-driven crisis and disruption, we continue to see how important trust and transparency are—not only to the functioning of the capital markets, but also to customer relationships, brand reputation, and the health and well-being of employees. For shareholders—and, increasingly, from a broader stakeholder perspective—much of that trust and transparency is grounded in the quality of the company’s financial reporting and disclosures and the story they tell. To that end, the audit committee’s oversight role has perhaps never been more important or more challenging.
The crises of 2020–21 and disruptions they’ve triggered—from accelerating technology transformations to upending long-standing “norms” of the workplace, business models, and the economy—have added significant stress and strain to financial reporting processes and the risk and control environment. That pressure is likely to continue given the demands for more and better climate and environmental, social, and governance (ESG) reporting, increased cybersecurity risks and ransomware attacks, a fast-changing tax and regulatory landscape, and other factors impacting the global risk environment—including the direction of COVID-19.
Read more the eight issues to keep in mind as audit committees consider and carry out their 2022 agendas.
BGF Partner in Charge
Partner, Audit & Assurance Services
KPMG in Indonesia
Harry is a partner in Audit & Assurance Services at KPMG Indonesia. He has more than 17 years of experience in auditing clients, particularly in the automotive, trading and services sectors. Harry is now taking the role as the partner in charge of KPMG Indonesia’s Board Governance Forum (BGF). Outside KPMG, Harry is a member of the Indonesian Institute of Certified Public Accountants (IAPI).