Directors Quarterly: Q4 2026

Heading into the final quarter of a year shaped by significant changes in the governance, risk, and regulatory landscape, boards must stay vigilant as they help management balance competing priorities. The pace of change and the scope of oversight demands show no sign of diminishing.

Oversight of strategy amid ongoing volatility requires close attention to strategic execution. Boards can help link strategy and risk; challenge assumptions; monitor key performance, risk, and control indicators; encourage pivots; and identify gaps management might be overlooking. In this edition, we share insights on how boards are moving toward more dynamic engagement in strategy, with a greater focus on strategic execution, artificial intelligence, and the geopolitical and macroeconomic landscape.

As companies consider a wide range of possible futures in carrying out their strategic plans, human judgment and decision-making are crucial. What contributes to effective forecasting discussions and what may derail them? Superforecaster Warren Hatch, CEO of Good Judgment Inc, shares his views on qualities that make good forecasters and how boards can help strengthen an organization’s scenario planning and decision-making capabilities. Discipline, process, humility, and open-mindedness are among the keys.

For audit committees, our financial reporting and auditing update covers Securities and Exchange Commission and Public Company Accounting Oversight Board developments, including the implementation challenges associated with ASU 2024-03, the accounting implications of tariff refunds, and proposed offering rules for certain investment contracts involving crypto assets.