Presented by: Prof. D.P van der Nest, Head of Department: Auditing, Faculty of Economics and Finance, Tshwane University of Technology
Thank you very much Prof. D.P van der Nest for your insightful presentation on ‘Audit Committee Effectiveness, Skills & Composition’ at the BarnOwl Info Sharing event held on 23rd April 2026. Thank you to all those who attended the session.
Audit Committee Effectiveness, Skills & Composition (2026)
Audit committee effectiveness in 2026 centres on ensuring that committees possess the right mix of skills, sufficient bandwidth, and strong governance practices to oversee an increasingly complex risk environment. With their oversight responsibilities expanding across financial reporting, internal controls, cybersecurity, AI, regulatory change, and sustainability, committees must continuously evaluate their composition, strengthen their capabilities, and improve their information flow to stay ahead of emerging risks.
Audit committees have transitioned from primarily financial oversight bodies into enterprise-wide governance leaders, accountable for integrated assurance and organisational trust. The emphasis has shifted from a compliance-driven mindset to strategic oversight, asking, “Is the information reliable and decision-useful?” rather than simply, “Is it compliant?”
Expanded responsibilities include enterprise risk management, cybersecurity, AI, data governance, sustainability & regulatory compliance and organisational culture and ethics.
Audit committee effectiveness is driven by diverse skills (finance, risk, technology, AI), sufficient time and engagement, focused agendas on key risks rather than routine reports, strong challenge of management, and open communication with auditors.
Some common weaknesses include limited tech/AI understanding, overloaded agendas, unclear risk ownership, and outdated committee composition.
Areas for improvement include regular self-assessments, skills matrices & ongoing training, better alignment between audit & enterprise risks and clear, intuitive dashboards and risk reporting that translate complex data into actionable, decision-ready insights.
Conclusion
Audit committees play a central role in building organisational trust and resilience. Their mandate is evolving from that of technical experts to governance partners, providing insight and foresight, delivering clear, decision-focused reporting, and translating complex risks into meaningful business impact.
Presentation, video and other useful links
Please see attached presentation here, and the info sharing recording here.
The cornerstone of effective and efficient internal audit functions
Implementing Combined Assurance
Contact us
Cheryl Keller | BarnOwl | cheryl@barnowl.co.za
Prof. D.P. van der Nest | Head of Department: Auditing | Faculty of Economics and Finance |Tel: 012 382 0743 |Mobile: 083 626 2255 | VanDerNestDP@tut.ac.za
Once again, thank you Prof D.P for your time and for your informative presentation and thank you to all those who attended our info sharing session. We look forward to seeing you at our next info sharing session. Please keep a look out for our upcoming events at: http://www.barnowl.co.za/events/
About the presentation and our guest speaker
Audit Committee Effectiveness, Skills & Composition (2026)
Audit committee effectiveness in 2026 centres on ensuring that committees possess the right mix of skills, sufficient bandwidth, and strong governance practices to oversee an increasingly complex risk environment. With their oversight responsibilities expanding across financial reporting, internal controls, cybersecurity, AI, regulatory change, and sustainability, committees must continuously evaluate their composition, strengthen their capabilities, and improve their information flow to stay ahead of emerging risks.
