The unprecedented events of the past two years have clearly put corporate governance processes to the test. The board and audit committee (AC)’s oversight role have perhaps never been more important or more challenging.
As the country focuses on reopening and companies reposition for the future, it is increasingly clear that resilience is proving to be the great differentiator of the pandemic era - from pivoting to “remote everything” and focusing on workforce well-being to deepening digital engagement with customers and recalibrating supply chains.
To keep this momentum, board agendas should be flexible enough to allow time for discussion of new challenges while also addressing an array of oversight issues and must-do’s that require focused attention and deeper dives.
In this edition, we share a list of considerations that should be high on board and audit committee agendas for the year ahead, among others:
- ESG and cybersecurity;
- The geopolitical risks arising from US-Russia tense relations; and
- Third-party risk management.
These though are yet to take into account the dynamic nature of Russia-Ukraine war given its eventual rippling outcome is difficult to assess at the moment. Nonetheless, we hope that they are still helpful for the board and audit committee members to plan beforehand.
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).