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The Paul Merage School of Business at the University of California, Irvine, hosted the 12th Annual Audit Committee Summit at The Cove at UCI Beall Applied Innovation, convening more than 200 audit committee members, board directors, audit partners, and corporate executives from across the nation to explore the evolving responsibilities of audit committees in a rapidly changing business environment.

Presented in collaboration with leading accounting and advisory firms including EY, KPMG, PwC, O’Melveny, Baker Tilly, Deloitte, and BDO, this year’s Summit—titled “Audit Committee Leadership: Navigating the Headwinds”—examined critical topics ranging from governance frameworks and financial reporting risks to internal audit oversight, technology adoption, and the impact of artificial intelligence on assurance functions.

Thought Leadership from the Nation’s Top Experts

The morning opened with remarks from Dr. Patricia Wellmeyer, Associate Professor of Accounting and Academic Director at the Merage School, who co-founded the Summit more than a decade ago to strengthen dialogue among corporate leaders and regulators.

“This event underscores our commitment to advancing governance excellence and equipping today’s directors and executive officers with insights needed to effectively lead through times of uncertainty and disruption,” said Dr. Wellmeyer.

Delivering the keynote remarks was Mark T. Uyeda, Commissioner of the U.S. Securities and Exchange Commission (SEC), who discussed current regulatory initiatives and the SEC’s approach to emerging market and audit oversight challenges. Uyeda, the first Asian-Pacific American SEC Commissioner, emphasized the importance of adaptability and transparency in the face of evolving investor expectations and technological innovation.

Panels on Risk, Governance, and Digital Transformation

The program featured two in-depth panel discussions moderated by Stephen Cooke, Adjunct Professor at the Merage School, and Debbie Biddle-Castillo, Principal at Baker Tilly’s Risk Advisory Practice. The first panel, “Navigating the Current Headwinds,” addressed the audit committee’s oversight responsibilities in today’s shifting financial and business landscape, and featured as panelists:

• Elizabeth Sullivan, Chief Risk and Audit Officer, WMATA, Chair of the North American Board of Directors of the Institute of Internal Auditors
• Zulema Garcia, Partner, CNM LLP and Audit Committee Chair, Cyclum Renewables
• Felicia Alvaro, Audit Committee Chair, Ingram Micro and McGraw Hill
• Michael A. Smith, Advisory Partner and U.S. Internal Audit Solution Leader, KPMG

The second panel, “The Audit Committee’s Governance of Digital Transformations,” explored AI integration, cybersecurity, and risk oversight in an era of digital acceleration. Panelists included:

• Vishal Kumar, Global CIO, Monster Energy
• Dean Yoost, Board Director, Pacific Life Insurance Company and UC Irvine Foundation Trustee
• Kris Sennesael, EVP and CFO, Western Digital

Both sessions reinforced how the intersection of governance, innovation, and ethics defines modern audit committee leadership.

Building Knowledge, Networks, and Accountability

The Summit serves as an important platform for peer exchange, connecting professionals across industries to share best practices and insights in corporate governance.

“The Audit Committee Summit reflects the Merage School’s mission to prepare leaders to anticipate change and manage complexity,” said Dean Ian O. Williamson. “By convening regulators, practitioners, and academics, we help ensure that corporate governance continues to evolve in ways that strengthen public trust and organizational resilience.”

About the Summit

Founded and co-chaired by Dr. Patricia Wellmeyer and Stephen Cooke, the UC Irvine Audit Committee Summit has become one of the region’s premier governance events—bridging academia and industry to elevate board performance and ethical stewardship.