In our 4th Annual Public Company Audit Committee Member Survey we see audit committees and boards intensifying their hands-on involvement with management. Risk management is under the microscope. And information quality, which has always been a challenge, is now an imperative - as is understanding the performance objectives driving the CFO, internal audit, and others.

In short, boards and audit committees are recalibrating the way they work to meet the challenges and uncertainties of the "new normal," as well as the expectations of shareholders and regulators.

Not surprisingly, the top priorities for audit committees in the year ahead are:

1. Helping their company manage through the financial crisis
2. Getting their arms around risk management
3. Ensuring clear and accurate financial reporting
4. Maintaining a strong internal control environment.