Audit Committee Chairs’ Independent Forum

The Forum’s objective is to promote good governance in the public interest by enhancing the leadership of Audit Committee Chairs through the sharing of experiences and the establishment of best practice.

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The Audit Committee Chairs’ Independent Forum (“ACCIF”) is an independent forum focused on FTSE 350 company audit committees. Its overall objective is to promote good governance by enhancing the leadership of Audit Committee Chairs (ACC’s) through the sharing of experiences and the establishment of best practice. Please see covering noteACCIF constitution 59kb and launch packACCIF constitution 130kb for further information.

Jock Lennox(Chair of the ACCIF Board)

The Forum was formed by a group of experienced ACC's who believe that a networked Forum will provide a means of providing support to experienced and new ACC's alike. At a time when the responsibilities of AC's have been increasing sharply, it will also seek to consider the interests of ACC's and audit committee members. It will also provide a focal point for the Financial Reporting Council and other stakeholders.

The Forum will on occasion offer guidance to audit committee members and chairs on specific matters, but more see its role to promote the many useful resources developed by others.

ACCIF is likely to address a number of issues in its first years of operation, including:

  • The new viability statement
  • The impact of the recent EU Audit Regulation and Directive
  • Audit tendering and rotation
  • The content of Audit Committee reports in companies’ annual reports – and how they might best evolve
  • Long form (external) audit reports
  • Key points for audit committees arising from the FRC’s Audit Firm Quality Review Team reports

The Forum has been set up by ICAS, but it remains separate from ICAS and is governed by its own Board which includes a number of experienced Board members. It is being administered and supported by Tracy Gordon.

If you are the Chair of an audit committee of a FTSE 350 company, we hope that you will be willing to join and support the activities of the Forum. To do so, please e-mail the completed registration form to Tracy Gordon at trgordon@deloitte.co.uk. These details will only be used by the Forum to communicate with you directly and will not be supplied to any other party.

From Jock Lennox (Chair of the ACCIF Board)