Audit Committee Governance: A Training Course in Structure, Oversight and Impact
1Summary
When corporate governance breaks down, it is rarely because no one saw the warning signs — it is because no structure existed to act on them. Audit committees exist to close exactly that gap, giving companies an independent body focused on financial integrity, risk and accountability.
Delivered by the Arab British Fellowship Training Academy, this course walks through how audit committees are formed, how they operate day to day, and how their effectiveness is measured — equipping participants to build or strengthen this function within their own organisations.
2Objectives and target group
Who Should Attend?
- Executive managers and financial officers.
- Internal and external auditors.
- Legal advisors and consultants dealing with corporate governance issues.
- Compliance and governance professionals.
- Individuals seeking to improve their knowledge of financial and managerial governance.
Knowledge and Benefits
- Understand why audit committees matter for transparency and accountability.
- Learn how to establish and manage an audit committee effectively.
- Identify the committee's core responsibilities in monitoring performance.
- Recognise the committee's role in identifying and mitigating risk.
- Evaluate committee performance against governance best practices.
3Course Content
Module 1: The Governance Gap Audit Committees Fill
- Defining the audit committee and its core goals
- How it differs from other supervisory bodies
- Its role within the wider corporate governance framework
Module 2: Laws, Regulations and the Board Relationship
- Key local and international laws and regulations governing audit committees
- The relationship between the committee and the board of directors
- How investor-protection laws intersect with committee work
Module 3: Forming and Structuring the Committee
- Selecting members and identifying the skills and expertise needed
- The CEO and CFO's role in forming the committee
- Organisational structure and distribution of responsibilities
Module 4: Planning the Committee's Work
- Setting up a meeting schedule and agenda
- Defining tasks and periodic reviews
- Planning activities that keep the committee's objectives on track
Module 5: Reviewing Financial Reports and Internal Risk
- Responsibilities in reviewing financial statements and disclosures
- Ensuring compliance with international accounting standards
- Identifying internal risk and recommending corrective action
Module 6: Monitoring Performance and Working with Internal Audit
- Assessing administrative and financial performance through reports
- Cooperation between the committee and internal auditors
- Using audit results to improve processes and policies
Module 7: Reporting to the Board
- Writing professional audit committee reports
- Communicating findings to the board and executive management
- Meeting requirements for periodic and comprehensive reporting
Module 8: Measuring Effectiveness and Driving Improvement
- Methods and tools for evaluating committee performance
- Identifying performance gaps and areas for improvement
- Adapting the committee's approach as circumstances change
Module 9: Independence, Compliance and Global Standards
- Maintaining independence and avoiding conflicts of interest
- Meeting legal and regulatory compliance requirements
- Applying international standards such as ISA, SOX and PCAOB locally