Hilary Wild: How the Audit Committee can be a perfect fit for a lawyer
We were joined by highly experienced audit committee chair, Hilary Wild, who takes us through just how beneficial the presence of a lawyer on a board can be. The prerequisites of an audit committee member – the ability to think independently and objectively, integrity, the ability to manage confidential and sensitive information, are all characteristics often found not just in accountants but in lawyers too.
Whilst not all lawyers are not finance professionals, many lawyers are hugely financially literate and their place on an Audit Committee will be an asset. Indeed, as Hilary suggested herself, an Audit Committee made up solely of accountants would not be at all healthy! Lawyers have the potential to bring far more to the table.
Hilary has provided some useful background material from The Chartered Institute of Internal Auditors which provides us with a high level view of the context for audit committees, and a sample audit committee charter. Please do watch the webinar below to find out more.