Audit Committee Chairs’ Independent Forum

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History and Purpose

Launched in October 2015, 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.

Much of the work will be undertaken virtually so that points of view can be readily obtained.

Governance Structure

The Forum is governed by a Board which includes a number of experienced ACC’s and which meets on a quarterly basis. The Board plans and oversees the activities of the Forum, and can form sub-committees or working groups as needed.

The Forum operates through the involvement of its members. It:

  • provides opportunities for members to meet and discuss topics or problems relating to ACC’s;
  • expresses opinions from an ACC’s viewpoint on important professional, economic or business matters and communicates those opinions as appropriate with the aim of influencing policy at national, European and international level as appropriate. Views are developed through consultation with members – in roundtable discussions and through member surveys; and
  • seeks to provide a wider understanding of the responsibilities of, and important issues facing, ACC’s.

ACCIF’s Constitution can be obtained hereACCIF constitution 527kb.

Objectives

  • Representational / advocacy / lobbying
  • Networking / speaker events / forums for sharing stories and experiences
  • Exchange of views and experiences – establishment of "best practice". Educational aspect, especially for ACC's of smaller companies
  • Intermediary role between FRC and other authorities
  • Wider public education role on the role of audit committees, and of audit
  • Need to clearly differentiate from large firm sponsored initiatives – ACC "Independent" Forum, no actual or perceived conflicts of interest

Membership and Eligibility

Membership of the ACCIF is personal and not corporate. Members must satisfy one of the following three criteria:

  • currently hold a position as Audit Committee Chair of a FTSE 100 or FTSE 250 company;
  • be expecting to be appointed in the near future as Audit Committee Chair of a FTSE 100 or FTSE 250 company; or
  • have held within the recent past, a position as Audit Committee Chair of a FTSE 100 or FTSE 250 company.

Membership is at the discretion of the Board and current and former Audit Committee Chairs of FTSE350 companies shall be eligible for membership subject to the rules above.

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 complete your details in the registration section of the home page, or e-mail your name and contact details to Tracy Gordon at trgordon@deloitte.co.uk.