Audit Committee Program

CourseLocationDates
ACC Module 1Niagara-on-the-Lake, ONOctober 12-13, 2012
ACC Module 2Niagara-on-the-Lake, ONNovember 9-10, 2012

Developed in collaboration with the Certified Management Accountants

The Audit Committee program has been developed in collaboration with Certified Management Accountants (CMAs). It is an interactive, engaging, and experiential learning opportunity designed to help corporate directors obtain the necessary knowledge, leadership, behavioural, and relationship skills needed to succeed in their role on the audit committee.

Participants will learn about the audit and financial aspects of the committee’s responsibilities, the management components of the committee work, and the relationship tactics involved in committee effectiveness. Committee members from publicly listed companies, private companies, government, and not-for-profit organizations all face increasing expectations. They can benefit from assessing their practices in an effort to tailor and fine-tune for their own particular circumstances.

Successful completion of the full Audit Committee program leads to the McMaster University designation: Audit Committee Certified (A.C.C.).

Module 1

  • Clarify and align audit committee processes, charters, and work plans to the corporate strategy.
  • Identify critical issues in the audit committee’s responsibility for financial reporting, internal audit, and related disclosure.
  • Define the audit committee’s role in risk management.

Module 2

  • Tailor the audit committee composition qualifications—and audit committee chair skills and qualifications—to your organization and strategy.
  • Manage relationships among the audit committee, management, the board, internal and external auditors, and investors.
  • Assess your skills and behaviours through participation in a unique audit committee simulation.

To complete the program and obtain the A.C.C. designation participants must:

  • Hold a professional financial designation or show evidence of financial literacy by attaining a minimum of 75% on The Directors College financial literacy quiz.
  • Attend the two residential Audit Committee Program modules (two days each). Please note that participants need to take the two modules in order (Module 1 is theory and Module 2 is mostly the simulation).
  • Participate in the Principal Based Governance Webinar (exemptions will be granted to Chartered Director graduates).
  • Successfully complete The Directors College Audit Committee Certified exam.

Registration fee: $3,525 per module (includes two nights’ accommodation, meals, all program material, The Principal Based Governance Webinar, and exam). Chartered Director (C.Dir.) graduates receive a 10% discount on the registration fee.

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    “I found the Directors College to be an excellent survey of the important matters of which a director must be aware in today’s corporate environment. The quality of the presentation and materials was first-rate and the perspectives gained were invaluable. I would highly recommend the Directors College.”

    The Honourable John Manley, P.C., O.C., C.Dir., Former Deputy Prime Minister and Finance Minister

    “The changes that impact corporate governance are establishing a pattern of increased accountability for the delivery of long-term value to customers, shareholders, employees and society. Proper corporate governance is now being defined to include knowledge of critical elements such as risk management and the measurement of strategic performance. At the end of the day, each board will be judged on its ability to effectively deliver value, rather than on its structure. The Directors College innovative program fills a unique and important gap in providing knowledge and insight as to how this expectation can be met. CMA Canada is pleased to be a sponsor of this timely initiative.”

    Steve Vieweg, C.Dir., Director, Executive Development, I.H. Asper School of Business – University of Manitoba

    “As an organization focused on educating corporate secretaries, the ICSA believes in furthering the potential of board members to better contribute to building effective governance structures. Given the key role of directors and corporate secretaries in applying proper boardroom practices, corporations need to ensure that these individuals meet a professional standard. The Directors College curriculum covers all the formal regulatory issues for directors and also addresses the informal skills of building effective and appropriate relationships with senior management. We see significant benefits to this program and ICSA is pleased to endorse it.”

    Lynn Beauregard, Executive Director, Chartered Secretaries Canada

    “The Directors College has developed a director education program which goes well beyond the fundamentals to address the structures and the behavioural components of principle-based governance. I am proud to be associated with the Directors College and I am honoured to lend my name to the College’s graduate award. ”

    Gilbert Bennett, Director and Recently-Retired Chairman of the Board, Canadian Tire Corporation Limited

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    David Beatty, Managing Director, Canadian Coalition for Good Governance