- PRODUCT OVERVIEW
The Audit Committee Index is designed to help you determine how to make your Audit Committee more effective by revealing strengths and weaknesses in the Audit Committee’s structure, policies and practices.
The Audit Committee Index is the only board driven, anonymous, confidential, and web-based evaluation tool to assess, enhance, educate and benchmark Audit Committees.
Questions, analysis and best practices were developed in partnership with FERF, the research foundation for Financial Executives International (FEI), the leading organization of financial executives and those who support them, as well as numerous other experts in the field. Whether you are a director of a public or private company, The Audit Committee Index will help make your Audit Committee more effective, highlight your Audit Committee’s strengths, areas to improve and areas of disagreement.
You cannot afford to miss this information.
The Audit Committee Index is a user friendly process can be facilitated internally or by an outside consultant who works with the board to develop an action plan to respond to any issues raised. Read more about how TBI can complement your current evaluation process.
Step 1: Board members (and others, at the board’s discretion), anonymously, confidentially, and securely complete a comprehensive, online questionnaire. This takes approximately 15-20 minutes to complete. Upon completion, drawing on scientific methodology, the questionnaires are compiled and scored.
Step 2: A report of the results and analysis is immediately available to your evaluation administrator and other key stakeholders, as the board determines appropriate, either on line or on paper. The report,which is a composite and provides no identifying information about individual respondents or the company, consists of:
It is as simple as that.
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“The Audit Committee Index report identified an area of disparity and created and enabled discussion by the board members in an area that would have otherwise not been raised. We intend to do this again next year..”
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“Great engine – I’m impressed. A lovely looking tool that delivers valuable data.” “For a number of years our Governance Committee has performed individual director evaluations. In looking for a third party facilitator of these evaluations we found the Board Institute to be a valuable resource. They provided independence and confidentiality which were an important
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“The Board Index was comprehensive and easy-to-use, and the results were very informative. It was a great way to collect and organize the thoughts of the directors on governance and compliance issues.”
“I found The Board Index to be a valuable tool that can positively change the way our Board functions. It is easy to use and spurred many new ideas for utilizing my Board to the fullest extent and engaging them in a more active role. The reports from the tool enabled me to anonymously view
"Congratulations on a valuable, easy to use product. The Board Index created a powerful framework for our dialogue about board practices and helped us identify areas of focus. I recommend it to other companies who want to enhance and benchmark best practices in governance."
“Our audit committee enjoyed the process and found The Audit Committee Index to be a valuable tool. The Inventory/report validated many of our current practices as well as identified opportunities for ongoing education. Further, our independent auditors said the Inventory/report would be one of the tools they will use to evaluate the committee going forward.”
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