As risk skyrockets, current and former CFOs are in demand for audit committees

Core Insights - The role of audit committees in corporate governance is evolving due to an expanding risk landscape, with a focus on the importance of independent directors, particularly former CFOs, for effective oversight [1][6] Group 1: Audit Committee Appointments - Recent appointments to audit committees include J. Michael Hansen at Paychex, Britt Vitalone at Align Technology, and Catherine Birkett at Twinkl, highlighting a trend of selecting experienced financial leaders [2] Group 2: Resources and Support for Audit Committees - The Institute of Internal Auditors launched the Global Audit Committee Center to provide resources aimed at strengthening the relationship between audit committees and internal audit, including research and training programs [3][4] Group 3: Technology and Risk Management - Audit committees are increasingly leveraging AI and advanced analytics to identify and manage various types of risks, enhancing their ability to provide proactive oversight [7][8] - The need for clear governance frameworks for AI and analytics is emphasized, with a focus on ethical considerations and the importance of expert guidance [8] Group 4: Engagement and Curiosity in Audit Committees - Audit committees are encouraged to engage with technology and challenge management on their assumptions and judgments, which is crucial for maintaining trust in a rapidly changing environment [10]