Event to discuss relationship between auditors, committees

An event jointly hosted by the Malta Institute of Accountants and the Institute of Chartered Accountants in England and Wales will discuss the need for enhanced dialogue between bank auditors, audit committees and regulators at Le Meridien Hotel, St Julian’s on October 15 between noon and 3.45 p.m.

As the financial crisis progresses and audit committees coming increasingly under the spotlight, some important questions need to be asked. Could audit committees have done more to foresee and help avert the crisis? What can audit committees learn from the crisis?

Although audit committees have found their place in the general governance structures of public interest entities, their oversight role in a post-crisis world needs to be re-examined. The financial crisis has sparked much debate on the degree to which sufficient challenge and professional scepticism is built into the audit process and on the effective engagement of the regulator with the regulated undertaking.

The banking sector has been particularly exposed to the crisis and is one area worth examining. The event will host an array of local and foreign speakers who will discuss the relationship between auditors, audit committees and regulators from their own perspective. Four presentation sessions will be followed by a panel discussion and question-and-answer session.