An audit committee is seen as one means of a Board achieving delegated responsibility. It helps ensure that appropriate accounting policies and internal controls are established and followed, and that the organisation issues financial statements and reports are on time and in accordance with its regulatory obligations.
The audit committee also encourages and facilitates communication among the Board, management, and internal and external auditors to enable the open and accurate exchange of ideas and information.
Partner level representation on audit committees can assist in giving independent advice and highlighting potential financial hazards. We can provide expert advice in determining the scope of the role duties of the audit committee in your organisation.
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