AS a body with oversight of an organization's financial position, the audit committee plays a critical and complex role in good corporate governance. Particularly during this period of great volatility and dizzying technological advancements, the audit committee is expected to be a steadying and guiding hand to business leaders as they navigate risks and opportunities.

For 2024, Deloitte expects audit committees to continue focusing on what is perhaps the most important item within their purview: regulatory matters. As part of its responsibility to oversee financial reporting processes and internal controls, the audit committee has to stay abreast of the often numerous priorities of and new rules from regulatory bodies.