What does it take for today’s audit committee chair to navigate the complex, “always on” landscape of enterprise risk, technology, and stakeholder scrutiny?

• Expanded scope and centralization of risk oversight: The role has significantly broadened, now encompassing oversight of a wide range of risks—including cybersecurity, data privacy, sustainability, and technology. In many organizations, the audit committee has effectively become the central risk oversight body, especially where dedicated risk committees do not exist.

• Continuous engagement is now the norm: Audit committee chairs need to collaborate closely with other board committees and external advisors. The role now requires ongoing, proactive engagement with management, auditors, regulators, and stakeholders, shifting from periodic meetings to continuous engagement.

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What skills, experiences, and leadership qualities are essential for audit committee chairs—and members—to be effective in the future?

• The importance of broad leadership experience: Many interviewees stressed the importance of having broader business experience, both for chairs and committee members—beyond just financial expertise. Attributes such as intellectual agility, adaptability, and strong interpersonal skills are key.

• Strong leadership can positively impact committee effectiveness: Chairs said they need to be thoughtful in how they manage the agenda, giving adequate attention to critical areas and allocating time accordingly. This often requires the chair to spend more time preparing for meetings, both independently and in prep sessions with management. Chairs also need to actively engage each member and ensure they come to discussions and meetings prepared and ready to contribute.

How can audit committee chairs foster a culture of continual learning and intellectual curiosity across the committee?

• Chairs set the tone for a learning culture: Effective chairs actively foster a culture of ongoing education and open dialogue, modeling engagement in learning opportunities and encouraging all members to participate, ask questions, and challenge assumptions.

• Most chairs advocate for more formal learning: While not universally required, some audit committee chairs advocate for more structured approaches to ongoing education—such as tracking completed learning activities and supporting formal training—which can help ensure members remain current and prepared to address emerging challenges.

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How can chairs modernize audit committee structures and processes to enhance agility and effectiveness in overseeing emerging risks and evolving responsibilities?

• Effective committee coordination and clear accountability are critical: As committee mandates increasingly overlap, strong coordination between audit and other committees is vital. Chairs need to balance integration with clear accountability, using joint meetings and regular communication to ensure comprehensive risk oversight without duplication or confusion.

• Leveraging technology and streamlining materials enhances oversight: Emerging technologies like artificial intelligence (AI) offer opportunities to improve information synthesis and committee efficiency, though leading practices are still developing. Streamlining meeting materials—through short videos, executive summaries, clear pre-read guidance, and advance distribution—helps members focus on key issues and make informed decisions.

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