Working With the Audit Committee Chair: A Guide for Group Financial Controllers
For many Group Financial Controllers, the audit committee chair is their first real relationship with a board member.
It is an important relationship. The chair relies on you for accurate numbers, early warnings and clear explanations. You rely on the chair to understand the issues, support good decisions and, later, perhaps to speak well of you.
Handled well, this relationship can become one of the most valuable in your career. Handled badly, it can damage your reputation with the board.
This article covers why the relationship matters, what the chair needs from you, how to deliver bad news, how private sessions work, how to use the relationship for your career and the mistakes that damage trust.
Why the chair relationship matters for your career
The audit committee chair is often a former CFO, audit partner or experienced director. They are senior, well connected and respected by the rest of the board.
A strong relationship with them:
Gives you real board exposure
Builds your reputation as someone the board can trust
Can lead to a reference when you apply for CFO roles
May lead to introductions to search consultants and other directors
Teaches you how directors think
For more on why this matters, see board exposure before your first CFO role.
What the chair needs from you
Audit committee chairs usually want:
No surprises. Issues raised early, not in the meeting.
Clear papers. Short, plain, focused on judgements and risks.
Honest views. Your real view, not a polished version.
Good preparation. Answers ready for likely questions.
A strong auditor relationship. No late fights with the auditors.
If you deliver these consistently, the chair will trust you.
How the relationship usually works
In many groups, the CFO owns the main relationship with the audit committee chair. The Group Financial Controller supports it. Over time, many chairs start contacting the Group FC directly on technical matters.
Always keep your CFO informed. Agree with them how you will work with the chair. The chair relationship should never feel like a way around your CFO.
Bad news early, and how to deliver it
The most important thing you can do is raise problems early.
If you find an issue, such as an accounting error, a control failure or a difficult judgement:
Tell your CFO first.
Agree how and when the chair will be told.
Prepare the facts, the impact and the options.
Brief the chair, with your CFO or as agreed.
Example:
“We found a $1.8 million error in last year’s revenue accounting during our half-year review. I told the CFO the same day. We briefed the audit committee chair within 48 hours with the facts, the impact on both years and a plan to correct it in the half-year accounts with clear disclosure. The chair supported the approach, and the auditors agreed.”
That kind of handling builds trust quickly.
Private sessions with the chair and the auditor
Many audit committees hold private sessions with the external auditor without management present. The auditor may be asked about the finance team, the quality of reporting and any concerns.
The best way to prepare for this is to have a strong, honest relationship with the auditor all year. If the auditor respects you, they will say so. If there are tensions, they may come up.
Some chairs also meet the Group FC privately to understand issues in more depth. Be open, accurate and balanced. Do not criticise your CFO or colleagues.
Writing papers the chair will value
Audit committee papers from the Group FC often cover:
Significant accounting judgements
New accounting standards
Audit findings and responses
Control issues
Tax matters
Keep them short. Lead with the issue, your recommendation and the impact. Put the detail in an appendix. Chairs read many papers. Clear ones stand out.
See how to write a board paper.
Using the relationship for your next role
When you apply for CFO roles, the audit committee chair can be a powerful referee. They can speak to your integrity, judgement and how you work with the board.
Ask them early whether they would be willing to act as a referee, ideally when you are not in an urgent job search. Many chairs are happy to support strong finance leaders.
On your resume, show the relationship through outcomes. “Briefs the audit committee chair before each meeting on accounting judgements and audit matters.”
Mistakes that damage trust
Surprising the chair in a meeting
Going around your CFO
Giving overly positive or defensive explanations
Arguing with the auditors in front of the committee
Long, unclear papers
Talking about other executives negatively
One serious surprise can undo years of trust.
How search consultants use chair references
When I was in executive search, a reference from an audit committee chair carried real weight for CFO candidates. It told the client that someone on the board side had seen the candidate under pressure and trusted them. If you have that relationship, it is worth more than many other references.
Interview preparation
CFO panels often ask: “Tell us about your relationship with the audit committee.” Have a specific example ready, such as an issue you raised early and how the chair responded.
Your profile
If you have a strong audit committee relationship, mention it. “Group Financial Controller with direct audit committee experience, including regular briefings with the chair and papers on all significant judgements.”
A quick self-check
Ask yourself: if the audit committee chair were asked about me tomorrow, what would they say? If you are not sure, the relationship needs more attention.
When the chair and the CFO disagree
Sometimes the audit committee chair and your CFO see an issue differently. This puts you in a hard spot. Stay neutral and factual. Give both the same information. Make sure your CFO knows what you have told the chair. Never take sides in a way that undermines your CFO, even if you privately agree with the chair. Chairs respect finance leaders who stay balanced under that kind of pressure.
Common mistakes in the first year
Waiting to be invited instead of offering to help
Writing papers that are too long
Being too defensive when the chair challenges a number
Forgetting to thank the chair for their time and guidance
Your LinkedIn
Many audit committee chairs are on LinkedIn. Connecting after you have worked together is fine and common. It keeps the relationship going when you or they move on, and it often leads to useful introductions to other directors and search consultants later in your career.
After you leave
Keep in touch with the chair after either of you changes roles. A short, genuine note once or twice a year is enough. Senior relationships like this often matter most years later, when you are looking for a CFO role or a first board seat.
Your next step
If you do not yet have a direct line to the audit committee chair, ask your CFO whether you can brief them before the next meeting on the items you prepared.
If you want a resume that shows your board exposure clearly, my CFO resume writing covers Group Financial Controllers and senior finance leaders across Australia and New Zealand.
If you are building towards a CFO role, book a complimentary Clarity Session.
