drawback an audit committee
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
4. As per the guidelines of corporate governance code, an audit committee should be set up and it should be comprised of minimum 3 nonexecutive directors. You are required to identify from the following any one drawback an audit committee?
a.
Broader skills within the board
b.
More trust in the credibility of the audit report
c.
Better position for the entity if looking to obtain a listing
d.
Difficult to find Audit Committee members with the relevant qualification, skill and experience
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