Saturday, January 1, 2011

Audit Committee

An Audit Committee is an important governance function in a company, or other corporate entity, that is responsible for coordinating the annual audit. The audit committee is also responsible for monitoring the integrity of the financial statements of the company. The committee is also the key area of responsibility for monitoring and reviewing the external auditor's independence, objectivity and effectiveness, as well as evaluating internal control functions of the company.

Synonyms: Auditors, Audit Report

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