Independent Audit Committees

Added on - 21 Apr 2020

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Running head: INDEPENDENT AUDIT COMMITTEESIndependent Audit CommitteesName of the StudentName of the InstituteAuthor Note
1INDEPENDENT AUDIT COMMITTEESExecutive SummaryThe report aims to look into the aspect of whether all corporations should use independentaudit committees. An audit committee is a committee comprising of non-executive directors,which views a company’s day to day affairs in a completely separate and independent wayand also collaborate in an effective manner between the main board of directors and externalauditors. Their role involves, standing objectively in the loophole between management, theexternal auditors and people who provide the capital to make things happen. This helps toensure the people providing the capital receive accurate, complete information in a timelymanner, which is subjected to a significant level of scrutiny. The report concludes that allorganizations should have independent audit committees to for better transparency andaccountability.
2INDEPENDENT AUDIT COMMITTEESTable of Contents1.Introduction.........................................................................................................................32.Discussion...........................................................................................................................42.1 Audit Committee..............................................................................................................42.2Advantages of having Independent Audit Committees in organizations..........................42.3Disadvantages of having Independent Audit Committees in organizations.....................63.Conclusion..........................................................................................................................74.References...........................................................................................................................8
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