Audit Committees Prioritize Enterprise Risk Management and AI Governance: Deloitte and CAQ Survey
The fifth edition of the 'Audit Committee Practices Report,' jointly published by Deloitte’s Center for Board Effectiveness and the Center for Audit Quality (CAQ), reveals that enterprise risk management has become a top priority for audit committees. The survey, based on responses from nearly 250 audit committee chairs and members, highlights an increasing focus on emerging risks, with over half of respondents noting this shift in priorities. Cybersecurity remains among the top three concerns for most audit committees, though confidence levels are high at 82%. However, AI governance is gaining urgency as a key oversight area. While 75% of respondents identified it as one of their top three priorities—up from 35% last year—only 56% feel confident in effectively overseeing this domain. The report also emphasizes the need for improved communication and engagement within audit committees, with higher-quality discussions ranked as a key opportunity to enhance effectiveness. Audit committee members value auditor experience and continuity most when assessing performance.
Topics: AI governance audit committees corporate governance cybersecurity risk management