what is the roll of audit committee in corporate governance?

Answer 1

The ROLL of the audit committee is a baked good that sits in front of the audit committee. They are less common than doughnuts, muffins and bagels.

The ROLE of the audit committee is to be an independent, objective committee that receives the recommendations from the internal and external auditors to improve systems, financial controls and maintain the integrity of the financials.

The audit committee is usually made up of independent directors. Generally, company executives and non-independent directors should not be involved due to their conflict-of-interest (i.e. they would be the ones to collude/hide/steal/cheat).