The consultation aims at collecting feedback on IOSCO’s proposals on good practices for audit committees of issuers of listed securities. Although these proposals are for public companies, the operations of audit committees of funds are often judged in a similar light.

The proposals seek to improve the reliability of the financial reports published by the audit committees as well as to harmonise best practices in the way audit committees carry out their responsibilities. The proposed good practices cover (i) the features that an audit committee should have, including the qualifications, skills and experience of the members of the committee and (ii) the selection and ongoing relationships and assessments of external auditors.

Stakeholders are invited to provide feedback by 24 July 2018. If you have any questions on this consultation, please contact Marie-Adelaide de Nicolay.