Roles and Responsibilities of Audit Committee in Corporate Governance and Ethics

This report evaluates the role and responsibility of an audit committee in corporate governance. It analyzes the composition and qualification requirement of members of an audit committee and examines their duties. It discusses the significance of independence and disclosure requirements in audit committee and evaluates the auditing standards which are required to follow by auditors. Furthermore, the relationship of the board with the audit committee will be evaluated along with the auditors’ role in the public interest.