In the aftermath of yet another financial services scandal, heads are turning to the audit committee for answers. What more can or should the audit committee do to help companies lasso cultural problems that can cascade into fraud and costly legal mayhem?
Plenty, in the eyes of some leading corporate governance experts, who believe the time for more focused cultural oversight, even culture audits, is dawning. The Institute of Internal Auditors first proposed the idea earlier in 2016, to which the internal audit profession reacted with a mix of intrigue and circumspection.
