Audit Committees in a New Era of Governance
Today's global credit crisis, combined with the changing regulatory climate, poses daunting new challenges for your audit committee. Not only are committee members responsible for providing accurate and transparent information to investors and other interested parties, but they also must ensure compliance with new accounting and financial regulatory rules and standards.
What You Can Expect
This intensive program prepares audit committee members and chief financial officers to operate effectively in a strained credit environment amid complex new accounting regulations. You will leave better equipped to identify and address the unique challenges—and the rare opportunities—arising from the current regulatory climate.
Your Course of Study
Immersed in an action-oriented curriculum, participants will explore how the changing charter of audit committees affects the agenda of committee leaders and members. You will leave with the latest strategies for strengthening financial expertise and responding to the demand for greater oversight.
Who Is Right for the Program
Though created for audit committee members, this leadership development program also benefits chief financial officers who work closely with the board's audit committees. To maximize impact, HBS encourages attendance by several representatives from a given organization.
What You Can Expect
Improving Your Organization's Performance
In a climate of heightened government regulation and investor scrutiny, the call for enhanced corporate oversight places greater pressure on audit committees. To position their organizations for success, committee members must ensure the integrity of information and compliance with government rules.
This program prepares audit committee chairs, board members, and chief financial officers to operate effectively in today's more rigorous market environment. Engaging in an intensive and interactive curriculum, you will explore the critical issues affecting financial accountability.
Taking Your Skills to the Next Level
Equipped with new strategies for cultivating leadership, you will emerge better prepared to:
- Assess the changing regulatory environment
- Develop measures for improving transparency
- Nurture relationships with internal managers and external auditors
- Navigate the aftereffects of the financial crisis
- Formulate new approaches for managing challenges and maximizing opportunities
Your Course of Study
The action-oriented curriculum engages audit committee members and CFOs in exploring key questions, including:
- How should audit committees and management deal with the heightened demand being placed on committee members for greater oversight and a higher level of financial and accounting expertise?
- How can audit committees improve transparency for investors?
- How can audit committees meet investor expectations for improved financial reporting and disclosure?
- What role, if any, should audit committees play in the investor relations process?
- How can audit committees better manage their relationships with directors, corporate management, and internal and external auditors?
- Given these and related issues, what should the charters of audit committees contain, and how can these committees be designed to fulfill their responsibilities?
Who Is Right for the Program
Audit Committees in a New Era of Governance is specifically intended for audit committee chairs and other committee members. Given the nature of corporate governance, however, it is equally beneficial for CFOs who work closely with their boards' audit committees. To maximize the program's impact through knowledge sharing and relationship building, attendance by several representatives from a given organization is encouraged.
Participating Companies Have Included:
Aetna Inc. |
The Estee Lauder |
"I currently chair the audit committees at Raytheon Company and Courier Corporation, and I am a member of State Street Corporation's audit committee. Serving on these three committees, I found the course to be very informative and worthwhile."
Ronald L. Skates [Proprietor — Private Investor], Office of Ronald Skates, U.S.
Meet the Program Faculty
Harvard Business School Executive Education programs are developed and taught by a core faculty of HBS professors who are skilled educators, groundbreaking researchers, and award-winning authors. Faculty leverage their business expertise and field-based research to create new knowledge and enduring concepts that shape the practice of management. The result is a teaching team that exposes participants to multiple perspectives, challenging their thinking on many levels. For more detailed biographies, click on each faculty name.
Paul M. Healy, James R. Williston Professor of Business Administration and Henry B. Arthur Fellow. Senior Associate Dean, Director of Research; and member of the Accounting and Management Unit. Faculty chair of "Audit Committees in a New Era of Governance" and "Strategic Financial Analysis for Business Evaluation”; and faculty cochair of "Leadership in Financial Organizations."
Jay W. Lorsch, Louis E. Kirstein Professor of Human Relations. Member of the Organizational Behavior Unit; faculty chair of the "Corporate Governance Programs," "Leading Professional Service Firms," and "Making Corporate Boards More Effective."
Krishna G. Palepu, Ross Graham Walker Professor of Business Administration. Senior Associate Dean for International Development; member of the Accounting and Management Unit and the General Management Unit; faculty chair of "Global CEO Program for China"; and faculty cochair of "Building Businesses in Emerging Markets."
Admissions
Because a diverse participant mix is an important part of every HBS Executive Education program, we look for candidates who reflect a broad range of industries, functions, countries, and backgrounds to enrich the learning experience.
Fees, Payments, and Cancellations
The program fee covers tuition, books, case materials, accommodations, and most meals.
No payment is necessary until you have been accepted into an HBS Executive Education program. After admission notification, we will send you an invoice via email; payment is due within 30 days of the invoice date. If admission is within 30 days prior to the start of the program, payment is due upon receipt of the invoice. Payment is required prior to the program start date. We accept payment by company check, bank wire transfer, or credit card (American Express, MasterCard, Visa). Details are included on the program invoice.
If you need to cancel or defer participation, you must submit your request in writing more than 30 days before the start of the program to receive a full refund. Due to program demand and the volume of preprogram preparation, cancellations or deferrals received 14 to 30 days prior to the start of the program are subject to a fee of one-half of the program fee. Requests received within 14 days are subject to full payment.
Requirements
Although there are no formal educational requirements, admission is a selective process based on professional achievement and organizational responsibility. We look for professionals who have demonstrated business talent and leadership potential.
Language Proficiency
We deliberately design our programs to encourage individual growth and to foster productive interaction among participants. For that reason, proficiency in written and spoken English is essential. If English is your second language, or if you have less than one year's experience working in an English-speaking environment, HBS requires a brief statement documenting proficiency in English-language skills, both conversational and written. This may include a list of the English-language certification programs that you have completed; the degrees you have earned at English-speaking colleges and universities; or the results of the Test of English as a Foreign Language (TOEFL) exam. The Admissions Committee also may request a telephone interview.
Application Process
HBS must receive your application and all required documents in order to prepare the application for review by the Admissions Committee.
To apply, you may use our online form or download an application. You also may request a brochure by mail.
If you submit your application online, we will promptly acknowledge receipt of your submission via email. In the unlikely event that an email acknowledgment is not received, please contact the Admissions Committee by email: exed_admissions@hbs.edu, phone: +1-617-495-6226, or fax: +1-617-496-1731.
If you choose to submit a printed application, be sure to type or print legibly and sign your application. Send the application to the address or fax number listed on the form. Mailed or faxed applications are processed and acknowledged promptly upon receipt via email.
Complete Your Application
Please answer all questions thoroughly—the Admissions Committee will only consider completed applications. After reviewing your application and making the necessary edits or corrections, print or copy the application for your records.
Meet the Deadlines
We request applications at least four weeks in advance of the program start date. Early application does not guarantee admission. Programs often fill to capacity, so early application is recommended.
Notification of Acceptance
We acknowledge receipt of all applications and maintain all application information in strict confidentiality.
To optimize the learning experience and maximize the exchange of ideas, the Admissions Committee selects a class that balances each participant's experience, the scope of his or her current responsibilities, and the type of organization.
The Admissions Committee begins reviewing applications four months before the start date, and qualified candidates are admitted on a rolling, space-available basis. Once the review process has begun, applicants are notified within three weeks via email regarding Admissions Committee decisions. If your application is received within three weeks of the program's start date, the Admissions Committee will notify you of their decision as soon as possible.
Need help?
For further assistance, contact our client service specialists at: 1-800-427-5577 (outside the U.S., dial +1-617-495-6555).