what are the advantages of audit committee?
Advantages of audit committee are as follows: 1. It provides an internal reporting mechanism compared to reporting to the directors who may wish to hide or amend unfavorable internal audit. 2. Shareholder and public confidence in published fiancial information is enhanced because it has been reviewed by an independent committee. 3. Provides better communication between the directors, the external auditors and management. 4.Improved Financial Practices and Reporting.