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Give the advantages of the audit committee

Give the advantages of the audit committee

Answers

Wilfred
• It contributes to improvement of quality of financial statements and credibility of the financial
reporting process.
• Assists the directors meeting the responsibilities in respect to financial reporting.
• Strengthens independence position of the external auditor by providing additional channel
of communication.
• Promotes effectiveness of internal audit function by ensuring that the function has authority
and resources t carry out its responsibilities and also ensures its recommendations to the
management are implemented.
• Increases public confidence in credibility and objectivity of published financial information
including audited interim financial statements.
• Improves communication between directors, the eternal auditor and the management.
Wilfykil answered the question on April 11, 2019 at 09:47

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