Leading the audit committees of large global companies
Audit committees play an extraordinarily important role in corporate governance. They are a critical player in establishing confidence and trust in capital markets by ensuring high-quality, reliable financial reporting. Many audit committees are now charged with overseeing additional risks, including vitally important areas such as cybersecurity.
Chairing the audit committee of a large, global public company is difficult due to the size and complexity of the organization. Success requires judgment, developed from personal experience and insight from others who have faced similar situations.
Since 2003, the Audit Committee Leadership Network (ACLN) has helped its members—the chairs of the audit committees at the largest North American public companies—succeed. Three times each year, ACLN members gather for a confidential group discussion. Meeting agendas are driven by the members’ interests and have typically focused on:
Auditing and accounting issues
Audit committee effectiveness and leadership
Engagement with policy makers, regulators and standard setters. ACLN members have met in dialogue with the US Treasury Secretary and the chairs of the FASB, PCAOB, and SEC
The ACLN works closely with the European Audit Committee Leadership Network (EACLN). Once a year, members of the ACLN and EACLN meet jointly in an annual Summit.
Tapestry Networks orchestrates the network, building on 15 years of convening board leaders in meaningful conversations. Tapestry helps members prepare for meetings with insightful, original reading material that draws upon tailored research and pre-meeting interviews with members and other leading thinkers. Meetings are synthesized into post-meeting publications that can be shared with colleagues. Everything is done by establishing a non-attribution agreement that ensures openness and protects personal and company confidentiality.
Our members include:
- Ron Allen, Coca-Cola
- Alan Bennett, Halliburton
- Mark Blinn, Texas Instruments
- Mary Anne Citrino, HP Inc.
- Pam Craig, Merck
- Pam Daley, BlackRock
- Dave Dillon, 3M and Union Pacific
- Bill Easter, Delta Air Lines
- John Edwardson, FedEx
- Tim Flynn, Wal-Mart Stores
- Sheila Fraser, Manulife
- Alan Graf, Nike
- David Herzog, MetLife and DXC Technology
- Suzanne Nora Johnson, Pfizer
- Marie Knowles, McKesson
- Ellen Kullman, Dell Technologies
- Mike Losh, Aon
- Wick Moorman, Chevron
- George Muñoz, Altria
- Chuck Noski, Microsoft and Booking Holdings
- Bill Osborn, Caterpillar
- Tom Schoewe, General Motors
- Gerald Smith, Eaton
- Dick Swift, CVS
- Jim Turley, Citigroup and Emerson Electric
- David Vitale, United Continental
- Robin Washington, Salesforce.com
- Steve West, Cisco Systems
- Maggie Wilderotter, Hewlett Packard Enterprise