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Audit Committee Brief — Finance talent: Building sustainable leadership (August 2014)

Published on: Aug 01, 2014

The competition for top-performing finance talent remains strong. Effectively identifying and onboarding senior finance professionals, monitoring their career development, and managing the pipeline of future leaders can help sustain an organization’s success. Executive succession and development are often the responsibility of the full board. However, the audit committee may consider becoming involved in overseeing the finance organization, keeping the quality and reliability of financial accounting and reporting and related controls at the forefront.

The committee can help monitor and strengthen finance talent initiatives through annual discussions about finance talent topics with the CEO, CFO, and other finance executives, as well as regular oversight of finance talent-related issues. This can include evaluating the strategic approach for finance talent, overseeing important hiring and onboarding activities, and being actively involved in succession planning efforts.

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