Spring 2010 Audit Committee Roundtable Report: Audit Committee's Focus on Risk and Control Environment

Even as they expect profits to increase this year, few of the 1,200 directors and executives who took part in KPMG's 28-city, Spring 2010 Audit Committee Roundtable Series are satisfied that their company has identified the significant risks to its growth plans and has put in place appropriate controls to monitor the risks.

This report from KPMG's Audit Committee Institute highlights five key issues for audit committees and boards as they help guide their companies through a tenuous economic recovery.

Issues discussed include company positioning and strategy; risks and controls around strategy, with a key role for internal audit; financial information and disclosures; tax risk management; and the financial reporting system's stress tolerance.