ICAS: Towards Transparency – Assurance on KPIs: A practical guide for audit committees and boards

The Institute of Chartered Accountants of Scotland (ICAS) have published a practical guide for audit committees and boards on the provision of greater assurance and transparency in KPI reporting.

The aim of the guidance, developed by a working group that includes representatives from all Big 4 firms, investors, preparers, audit committees and internal auditors, is to provide a framework of best practices, which committees/boards can refer to during the KPI selection process.

The guidance, entitled “Towards Transparency”, includes also an Assurance Matrix created to help audit committees/boards to determine the source of assurance obtained over each KPI and where each of their KPIs should be positioned in this matrix.