Audit Committee Success: Annual Plan and Key Deadlines—Directly in Microsoft Teams
CFOs know that the strength of an organization’s governance lies in rigorous planning, clear accountability, and flawless execution. Creating an audit committee annual plan in Microsoft Teams turns those principles into daily practice—giving the board a real-time, centralized workspace to track deadlines, manage risk, and deliver lasting value.
A best-practice audit committee annual plan often covers these five areas:
1. Financial Reporting and External Audit
- Approve annual and interim financial statements
- Meet with external auditors to review findings and recommendations
2. Internal Audit and Internal Controls
- Approve the annual internal audit plan
- Review quarterly internal audit reports and follow up on management actions
3. Risk Management
- Review the enterprise risk register and key mitigation strategies
- Conduct annual risk framework assessments
4. Compliance and Regulatory Oversight
- Monitor regulatory compliance and review whistleblower reports
- Prepare an annual compliance report for the board
5. Governance and Committee Effectiveness
- Review and update the committee charter and work plan
- Conduct annual committee self-assessments and training
While this structure gives oversight and clarity, keeping all these activities on track throughout the year is a real challenge—especially as deadlines and ownership change, and as new risks emerge.
This is where digital tools like PlanIt for Microsoft Teams can add real value. PlanIt enables you to map out your annual plan, assign responsibility, set automated reminders, and view progress—right inside and leveraging your organization’s Microsoft 365 environment. With seamless integration with Planner and Outlook, your entire team can stay in sync and focused on what matters most. Here’s an example Annual Plan for an Audit Committee in the PlanIt app for Microsoft Teams:
