Former FERMA President Marie-Gemma Dequae took part in a meeting in Brussels of the European Confederation of Directors’ Associations (ecoDa) for the presentation of its Audit Committee Guidance for European Companies on 7 September.
Dequae, FERMA vice-president Julia Graham and board member Michel Dennery are working on a new FERMA report on the responsibilities of senior management for risk management under the provisions of the 8th Company Law Directive, in cooperation with the European Confederation of Institutes of Internal Auditing (ECIIA).
According to Dequae, ecoDa believes that audit committees are an important element of strong corporate governance and bring significant benefits to organisations. Speaking at the launch, MEP Antonio Masip Hidalgo, European Parliament Legal Affairs Committee, argued that membership of audit committees should not be limited to accounting experts. He also said a good evaluation of all risks and risk management should take place at least once a year.