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Explain what is the role of an audit committee

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Question -

(a) "Audit committees do not prepare financial reports, nor do they conduct audits. But they have an essential role to play in ensuring the integrity and transparency of corporate reporting" - explain what is the role of an audit committee in ensuring the integrity and transparency of corporate reporting? Is an audit committee mandatory in Australia?

(b) What do the ASX Corporate Governance Principles say about having an internal audit function?

Reference no: EM132542795

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