The Role of the Audit Committee
Your institution’s safety and soundness are contingent upon effectively identifying and managing your compliance risk exposures. The Audit Committee is a vital component to your Compliance Management Program.
They must have an understanding of your institution’s current compliance risk level and focus on those areas of highest risk to ensure that board-approved policies include mechanisms for identifying, measuring, controlling, and monitoring risks. They also must be kept informed of the current regulatory environment, including regulatory hot buttons and pending regulations coming down the pike.
In this session, we will discuss the role and responsibilities of the Audit Committee and its members. We will share a sample of a standard Audit Committee agenda and detail the reports and policies that the committee is responsible for reviewing.
