The main purpose of constituting an Audit Committee in an organization is to provide oversight of the financial reporting process, the audit process, the company’s system of internal controls and compliance with applicable laws, rules and regulations. The Audit Committee also oversees and improve financial practices and reporting in the organization by providing its oversight.The main purpose of constituting an Audit Committee in an organization is to provide oversight of the financial reporting process, the audit process, the company’s system of internal controls and compliance with applicable laws, rules and regulations. The Audit Committee also oversees and improve financial practices and reporting in the organization by providing its oversight.taxmann.com Latest ArticlesRead More
