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What audit committees need to know to prepare for 2023


This webcast explored top-of-mind issues for audit committees heading into 2023, including:

  • The macroeconomic outlook. Find out what’s expected from a global macroeconomic perspective, including how recessionary and inflationary pressures are impacting consumer demand, how the labor markets are shifting and what these key economic variables will mean for businesses broadly.
  • A view from Washington, DC. Hear insights about the latest public policy and regulatory developments, including a discussion of midterm election results and related implications to businesses.
  • Tax developments. Learn about the impacts and opportunities presented by recent tax developments, including high-level accounting and disclosure considerations.
  • Financial reporting. Get up to date on current and emerging financial reporting and regulatory developments, including key takeaways from the 2022 AICPA conference on current SEC and PCAOB developments and other important year-end reminders and considerations.
  • Risk management issues. Gather insight into the top risks for 2023 and other top-of-mind challenges facing risk leaders and internal audit functions, including how internal audit should be responding to emerging risks.

The discussion was moderated by Patrick Niemann, Partner, Ernst & Young LLP, and Americas Leader of the EY Audit Committee Forum.

Panelists included:

  • Karen Dynan, Nonresident Senior Fellow, Peterson Institute for International Economics
  • Angela Evans, EY Americas Co-director of Tax Accounting and Risk Advisory Services
  • John Hudson, Principal, Enterprise Risk Consulting, Ernst & Young LLP
  • Kristi Kennedy, Director, Office of Public Policy, Ernst & Young LLP
  • Heather Rosenberger, Managing Director, National Professional Practice, Ernst & Young LLP

What we heard from the audience

How are you feeling about the economic outlook for the year ahead?
Which of the macroeconomic developments are you currently most concerned about?
 Which of the following public policy areas will your board likely spend the most time discussing this year?
Does your company plan to accelerate any of its investments to benefit from the energy- and climate-related provisions under the IRA?
How prepared is your organization to comply with the SEC's climate proposal?
Which risk will your organization be increasing its investments in for the upcoming year?
In addition to key financial reporting oversight responsibilities, what will be your audit committee's top priority for the coming year?


CPE credits: 1.6

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