Newsletter | Volume 1

Global companies are increasingly met by new regulations and mandates, that continually challenge the corporate governance, risk management, compliance and IT security (GRC) processes and therefore make greater demands to the audit committee. The Copenhagen Compliance® UK Ltd.'s UK Audit Committee Governance Network is a group of audit committee chairs, members, and stakeholders who are committed to improving the performance of audit committees and the board of directors by enhancing trust in financial markets and all stakeholders.

The concept is to yield practical, updated, topical and timely guidance
The primary purpose of the network/forum is to increase the member's expertise, start the development journey based on sparring and knowledge sharing on particular challenges from the members of the professional network. In addition, the network will share surveys and articles in newsletters so that the members can influence the topics and content, to expand the skills.

Benefits and Valuesv The network meetings will focus on practical issues to improve the audit committee and overall board performance. Each agenda will be identified and approved by the members in an attempt to develop;

A strong professional network
Access to content, roadmaps and frameworks developed by GT/Copenhagen Compliance®
Access to experts in the GRC and audit field
Benefit from input on international policy matters and best practices
Challenging members and their audit committees
Contact to sparring and knowledge sharing
Exchange of emerging global best practices
Improved audit committee performance
Professional updates at the highest level
Peer-to-peer dialogue on immediate issues
Stakeholder contribution to enhancing trust and integrity
Topical subjects provided by oversight authorities & other members

Program
Each meeting will be presented with current and topical audit committee challenges and changes under the influence, perspectives, and responsibilities of the most significant financial, risk, reporting, auditing, and governance matters, facing the committee.

At each meeting network members will learn on how to address the prominent audit committee issues and identify new strategies for improving GRC. At each session, there will be expert guidance from board members, regulators, oversight authorities, government officials, and financial reporting experts.

Some of the identified Audit Committee issues for the first two meetings could be:

Board oversight of corporate culture
Dialogue on audit policy
Evolution of audit regulators
Emerging international risks
Enhancing stakeholder communication
Evolving tax landscape
Integrated reporting
Investor Activism
Mandatory audit rotation
Controls of Cyber- Risks and Security
Monitoring of significant transactions
Oversight of tax strategy

Other 2016-17 opportunities for the network; GDPR and privacy regulation, export sanctions, corruption, supervision of cartels, new control requirements, accountability, transparency, framework to provide content and insight, assess and determine strategic risk areas, sharpen financial skills, clear communication, creating clear synergy between governance, risk and compliance (GRC).

Confidentiality
All AC network meetings will be held under an adapted version of the Chatham House Rule: whereby the members name and company affiliation are public records, however, any comments made during the meetings are not attributable to individuals, companies, or industries.

All insights and emerging best practices developed by the network will be shared by network members, and will be published in Copenhagen Compliance newsletters. The articles are then distributed to the members and can be freely distributed to colleagues, peers, and advisers.

Copenhagen Compliance® is a global GRC think tank. As a privately held professional services firm, the mission is the advancement of the corporate ability to govern across the borders of sector, geography, and constituency. The material prepared by the networks is developed and copyrighted for the use by the members and in Copenhagen Compliance newsletters.