1. Risk management
Boards face sharper challenges in navigating a risk environment that has become more expansive, complex and interconnected. A recent EY Board Risk survey indicates an escalating level of concern amongst boards that a risk will severely impact their business. In an increasingly complex risk environment that is likely to both persist and evolve, boards need to support their organizations in anticipating and adapting to key and other emerging risks, rather than reacting to them. Leading boards are continuing to add value by supporting management in horizon scanning and scenario planning to identify and capitalize on changes in the business environment before they materialize into significant risks.
2. Financial reporting
Companies are continuing to re-evaluate their disclosures as stakeholders seek to understand the impact of various external developments on the business. This includes the continued global economic uncertainty; climate and other environmental, social and governance (ESG) factors; and evolving geopolitical developments. We’ve highlighted some key financial reporting developments and trends to assist audit committees in overseeing audit quality and encouraging an environment and a culture that support the integrity of the financial reporting process.
3. Tax and other policy-related developments
In today’s volatile environment, companies will need to carefully monitor geopolitical, macroeconomic and global tax developments to make sound tax decisions for 2024 and beyond.
4. Regulatory developments
Get up to speed with key regulatory changes in Canada and around the world with our annual report. Covering topics from environmental, social, and governance standards to new security regulations and vital audit industry findings, our expert insights help you understand and navigate these developments with confidence.
Download the report for more details and questions to consider.