Audit Committee Institute

The Audit Committee Institute (ACI) provides guidance and resources to audit committees, helping to facilitate the skills and knowledge required.

How are audit committees keeping pace with disruptive risk and digital transformation?

Read our UK summary of the latest Audit Committee Pulse survey

On the 2025 audit committee agenda

Audit committees can expect their company’s financial reporting, compliance, risk, and internal control environment to be put to the test in 2025 by an array of challenges that have grown and intensified over the past year. We highlight nine issues to keep in mind that audit committees should consider in 2025.

FRC principles for operational seperation of audit practices Read

Auditor transition: Pulse survey of audit committee chairs View

Private sessions: Questions for audit committees Question

Audit Committee Institute

2024 Corporate Governance Code

Audit and assurance policies Read

2024 Guidance on Corporate Governance Code Read

Audit committee Standard: External audit Read

COVID-19

COVID-19 - Challenges to auditing

COVID-19 Corporate reporting implications Read

COVID-19 Corporate governance and reporting Read

COVID-19 - Guidance on the reporting timetable for listed companies Read

2018 UK Corporate Governance Code

The 2018 UK Corporate Governance Code focuses on long term success, sustainability and ensuring the attractiveness of the UK capital market.

The UK Corporate Governance Code Read

Leveraging internal audit to help monitor and access culture View

Stakeholder engagement Question

Corporate Governance

The 2018 UK Corporate Governance Code states that boards should create a method of gathering views of the workforce, we examine how workforce directors can add value.

Review of corporate governance reporting Read

Views of the workforce and designated NEDs View

Workforce advisory panels Question

Audit Committee Institute

Revision to the going concern UK auditing standard

Encouraging the reporting of misconduct Read

Audit 2023: Is this how you’ll uncover fraud? View

Fraud and whistle blowing: Questions for audit committees’ Question

Audit Committee Institute

Guidance for audit committee chairs

The importance of the audit committee chair’s leadership in setting the committee’s tone, work style, and agenda is vital to the committee’s effectiveness. Read

Becoming an audit committee member Watch

Effective conversations: Questions for audit committees Question

150 Audit committee best practices

Download book

Guide to IFRS for audit committees

Download book

Read & Watch

Surveys

1 2023 FTSE350 audit committee chairs’ survey
2 2023 Global audit committee survey
3 2023 Global audit committee survey: Summary
4 Audit Tenders: CFO and audit committee chairs
5 Audit Tenders
6 Audit Quality
7 2019 Global Audit Committee Pulse Survey
8 Auditor transition
9 The risks and benefits of changing auditors

2023 FTSE350 audit committee chairs’ survey

Insights into how FTSE350 audit committee chairs are preparing for the forthcoming governance and audit reforms – including thinking about their future assurance needs

Read report

2023 Global audit committee survey

A global survey providing insights to help audit committees sharpen their focus, benchmark responsibilities and strengthen oversight

Read report

2023 Global audit committee survey: Summary

A global survey providing insights to help audit committees sharpen their focus, benchmark responsibilities and strengthen oversight

Read report

Audit Tenders: CFO and audit committee chairs

FTSE350 CFOs and audit committee chairs share their views on the key decision making criteria used, attitudes to reappointing the incumbent and additional areas of assurance being sought

Read report

Audit Tenders

Audit committee members share their views on the key decision making criteria used, attitudes to reappointing the incumbent and additional areas of assurance being sought

Read report

Audit quality

UK audit committee members share their views of auditor scepticism, challenge of management and audit quality in our 2020 survey

Read report

2019 Global Audit Committee Pulse Survey

A global survey providing insights to help audit committees sharpen their focus, benchmark responsibilities and strengthen oversight

Read report

Auditor transition

UK audit committee members look at auditor transition, handover, business impact, the degree to which tender ‘promises’ had been delivered and the challenges of transition

Read report

The risks and benefits of changing auditors

Regular audit tendering and rotation is now business as usual. This survey explores the perceived risks and benefits of changing the external auditor.

Read report

Audit Committee Questions

1 Reviewing and assessing financial statements
2 Accounting policies judgements and estimates
3 Narrative reporting and non-GAAP measures
4 Oversight of risk
5 Assessing internal control systems
6 Fraud and whistle-blowing
7 External audit scope
8 Assessing external audit effectiveness
9 Private sessions with the external auditor
10 Internal audit scope
11 Assessing internal audit effectiveness
12 Private sessions with the internal auditor
13 Self-evaluation
14 Chairing the audit committee
15 Getting the right information
16 Effective audit committee conversations
17 Audit Committee induction and onboarding

Reviewing and assessing financial statements

Questions audit committees might ask when reviewing and assessing financial statements

Accounting policies judgements and estimates

Questions audit committees might ask when considering accounting policies, judgments and estimates

Narrative reporting and non-GAAP measures

Questions audit committees might ask when considering narrative reporting and non-GAAP measures

Oversight of risk

Questions audit committees might ask when exercising oversight of risk

Assessing internal control systems

Questions audit committees might ask when exercising oversight of internal control systems

Fraud and whistle-blowing

Questions audit committees might ask when considering fraud risk and whistle-blowing processes

External audit scope

Questions audit committees might ask when considering the scope of the external audit

Assessing external audit effectiveness

Questions audit committees might ask when assessing external audit effectiveness

Private sessions with the external auditor

Questions audit committees might ask when planning and executing their private sessions with the external auditor

Internal audit scope

Questions audit committees might ask when considering the scope of the internal audit

Assessing internal audit effectiveness

Questions audit committees might ask when assessing internal audit effectiveness

Private sessions with the internal auditor

Questions audit committees might ask when planning and executing their private sessions with the head of internal audit

Self-evaluation

Questions audit committees might ask when considering the effectiveness of the committee's performance

Chairing the audit committee

A look at the characteristics of good audit committee chair

Getting the right information

Questions audit committees might ask when considering the propriety of information flows and whether they have access to the right information

Effective audit committee conversations

Questions audit committees might ask when considering the effectiveness of their audit committee conversations

Audit Committee induction and onboarding

Questions to ask when considering the induction and onboarding of new audit committee members

Tools and best practice

Resources that can be used by audit committees in preparing their own policies, procedures and disclosures

Audit Effectiveness Checklist

Ensuring the quality of your external audit.

Download

Audit Committee Assessment Tool

Creating, maintaining and leveraging an effective audit committee.

Download

Audit Terms of reference

Terms of Reference for the audit committee (by kind permission of ICSA: The Governance Institute)

Download

Tender process

A short guide to getting real value from the audit tender process

Audit tendering

A specimen audit committee statutory report on the audit tender process

Download

Non-audit services policy

A specimen non-audit services policy for a Public Interest Entity

Download

Meeting agenda

Pro-forma of an audit committee meeting planner to help board members plan and tailor what gets addressed at each meeting

Download

Private session

Questions intended to stimulate thought around the type of issues that could be raised with the auditor in a private meeting

Download

ACI Handbook

Access full handbook

Download

Global Network

Explore our Audit Committee Institute network operating in over 38 countries and jurisdictions

Who to contact

Timothy Copnell

Board Leadership Centre
KPMG in the UK

Krishna Grenville-Goble

Director, Inclusion, Diversity and Equity – Board Leadership Centre
KPMG in the UK

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Audit Committee Institute

How are audit committees keeping pace with disruptive risk and digital transformation?

Read our UK summary of the latest Audit Committee Pulse survey

Trending now

On the 2025 audit committee agenda

Audit Committee Institute

2024 Corporate Governance Code

COVID-19

COVID-19 - Challenges to auditing

2018 UK Corporate Governance Code

The 2018 UK Corporate Governance Code focuses on long term success, sustainability and ensuring the attractiveness of the UK capital market.

Corporate Governance

The 2018 UK Corporate Governance Code states that boards should create a method of gathering views of the workforce, we examine how workforce directors can add value.

Audit Committee Institute

Revision to the going concern UK auditing standard

Audit Committee Institute

Guidance for audit committee chairs

150 Audit committee best practices

Guide to IFRS for audit committees

Read & Watch

Twelve important guidelines for audit committees

Tapping into internal audit’s holistic view of risk

Reporting on the Wates Principles

Maintaining critical alignments during disruption and turmoil

Conversations with US audit committee chairs

Review of corporate governance reporting

Schrödinger’s cat and corporate governance reporting

Audit quality: The views of audit committee chairs

Climate change reporting

The 2023 ICAEW CPD requirements explained

The supply chain trends shaking up 2023

Onboarding new audit committee members

Global IAA Standards?

Becoming an audit committee member

An audit committee lens on ESG reporting

Improving the quality of comply or explain reporting

Surveys

2023 FTSE350 audit committee chairs’ survey

2023 Global audit committee survey

2023 Global audit committee survey: Summary

Audit Tenders: CFO and audit committee chairs

Audit Tenders

Audit quality

2019 Global Audit Committee Pulse Survey

Auditor transition

The risks and benefits of changing auditors

Audit Committee Questions

Reviewing and assessing financial statements

Accounting policies judgements and estimates

Narrative reporting and non-GAAP measures

Oversight of risk

Assessing internal control systems

Fraud and whistle-blowing

External audit scope

Assessing external audit effectiveness

Private sessions with the external auditor

Internal audit scope

Assessing internal audit effectiveness

Private sessions with the internal auditor

Self-evaluation

Chairing the audit committee

Getting the right information

Effective audit committee conversations

Audit Committee induction and onboarding

Tools and best practice

Audit Effectiveness Checklist

Audit Committee Assessment Tool

Audit Terms of reference

Tender process

Audit tendering

Non-audit services policy

Meeting agenda

Private session

ACI Handbook

Global Network

Who to contact

Explore the Board Leadership Centre