DCPAS CPE Day Panel Discussion on Public and Private Company Audit Trends May 26,

PwC Agenda I.Audit Committee Effectiveness A. Standardized Framework a. Example B. Assessing Financial Expertise a. Example C. Self Evaluation Surveys/Questionnaires a. Example D. Audit Committee Activities/Meetings E. Communications with Internal and External Auditors II.Tone at the Top A. Risk Assessment a. Practices b. Procedures B. Code of Conduct III.Crisis Management A. Where was the Board and Management B. Preparing and Testing a Plan of Action C. Individual Members D. Committee as a Whole E. Legal Counsel F. Senior Management G. Public Relations 2

Audit Committee Effectiveness Standardized Framework

Audit Committee Effectiveness Assessing Financial Expertise

Audit Committee Effectiveness Self Evaluation Surveys/Questionnaires

Audit Committee Effectiveness Audit Committee Activities/Meetings

Audit Committee Effectiveness Communications with Internal and External Auditors

Tone at the Top Risk Assessment

Tone at the Top Risk Assessment Practices

Tone at the Top Risk Assessment Procedures

Tone at the Top Code of Conduct

Crisis Management Where was the Board and Audit Committee

Crisis Management Preparing and Testing a Plan of Action

Crisis Management Individual Members

Crisis Management Committee as a Whole

Crisis Management Legal Counsel

Crisis Management Senior Management

Crisis Management Public Relations

PwC Closing remarks