members of the audit committee of a public company.

Expert Solution

An Audit committee consists of person who is outsider, independent and does not belong to company.
All the public companies are required to have their own audit committee which works for the company. They are incharge of the company's financial reporting and disclosures.
Any public company to be listed on the stock exchange is also required to have their own audit committee.
Audit committee works independently and takes help from the companies CFO (Chief financial officer) and internal auditor. Committee members are also changed from time to time after specific interval depending upon the rules and regulations of the law. Committee also have the power to specifically investigate the companies cases where they suspect anything.
The members of audit committee are the members from the Board of Directors of the company but are now independent and does have any interest in the company.
The chairman of the committee is selected from the members of of the committee.
Committee members are independent and one person of the committee should qualify as a financial expert.

ekkarill92 answered 2 years ago

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