Timing Topics & Speakers
09:00 Introduction and welcome.

  • Confederation of British Industry’s recommendations on; The legislation on auditor independence, liability, transparency, and advisory
  • The consequences of the audit legislation and the Directive on audit committee’s responsibility to restore integrity and trust between companies, markets.

Barry Vitou, Partner Pinsent Masons.

09:20 The big picture – the new law for businesses in general and public interest entities (PIES) – Accession and effect.

  • The Audit Committee anno 2018: The current and future best practices in Governance, Risk, and Compliance. What are the external independent auditor’s responsibilities for audit and reporting?
  • The auditor’s expectations for cooperation with the Audit Committee and the Board – What are the new requirements and the procedures that need to be strengthened or is simply a formalisation of existing and current “best practices”?
  • Special legislation on auditor liability, transparency and advisory
  • How does the audit legislation the statutory audit of ‘public interest entities (PIE) companies?
    How can the purpose of the legislation, which is to enhance audit quality and auditor or audit firm’s independence, improved?

The amended Audit Act has made it possible for the General Assembly to select external experts to the Audit Committee, i.e., they are not board members.

Chris Smith, Partner, Grant Thornton

10:00 Understanding the corporate business and management impact of the legislation

  • Audit committees prospective role to strengthen confidence in corporate reporting and’s supervision of the auditor’s independence
  • How will the audit committee’s role as a guarantor to the shareholders and other stakeholders affected by the complete legislative package?

Jon Wallis, Director, Grant Thornton

10:30 Breakfast & Tea Break
11:00 The need for legislative and regulatory reforms to increase transparency and accountability and improved stakeholder protection to ensure market integrity and restore confidence

  • How can the regulatory and legislative mechanisms to help reduce the risk of market failure, minimizing unproductive capital and help resources can be implemented efficiently?
  • How can businesses create profit, vibrant economy, and sustainable growth through compliance?
  • FSA contributions to business and markets work together towards high levels of built trust and integrity.

Barry Vitou, Partner Pinsent Masons

11:20 The new audit committee – is that real changes or most companies at the forefront of the new statutory requirements.

  • Audit committees revised charter connection. The new challenges ahead, in the center after the recent revision reforms.
  • How does the audit legislation the statutory audit of ‘public interest entities (PIE) companies?
  • How can the audit committee contribution with actions to Comply with the law, enhance audit quality and auditor and supervise the audit firm’s independence improved?

Jon Wallis, Director, Grant Thornton

11:40 Extended Enterprise Risk Management across the extended enterprise
Panama Papers revealed that understanding third-party risk is one of the major challenges that boards and audit/risk committee should handle. The full extent of the company’s third-party relationships and the associated risks related to customers, partners, agents, affiliates, suppliers and service providers for the audit committee.Speaker to be announced
12:30 Special legislation on auditor liability, transparency and advisory

  • The Audit Committee’s role, expectations, and responsibilities
  • How should corporate governance efficiency be; understood, assessed and improved
  • How to achieve consensus on the Board’s future role and set realistic expectations of what it can accomplish
  • What are the corporate considerations in relation to the audit committee’s role, tasks, and responsibilities

Kersi Porbunderwalla, Secretary general, Copenhagen Compliance UK Ltd.

13:00 FINAL REMARKS AND CONCLUSION