The Role of Audit Committee in Corporate Governance: Descriptive Study

25 Pages Posted: 27 Aug 2014 Last revised: 22 Oct 2014

See all articles by Dr. Ahmed Al-Baidhani

Dr. Ahmed Al-Baidhani

University Putra Malaysia - Putra Business School

Date Written: August 26, 2014

Abstract

Corporate governance is very important in our business world today, especially after the frequent non-stop worldwide financial crises. Strong corporate governance is now considered a basic condition to accept and register an organization in most of the Stock Exchange Markets all over the world. The audit committee plays a major role in corporate governance regarding the organization’s direction, control, and accountability. As a representative of the board of directors and main part of the corporate governance mechanism, the audit committee is involved in the organization’s both internal and external audits, internal control, accounting and financial reporting, regulatory compliance, and risk management. This paper focuses on the audit committee’s powers, functions, responsibilities, and relationships within the framework of corporate governance.

Keywords: audit committee, corporate governance, external audit, internal audit, internal control

Suggested Citation

Al-Baidhani, Dr. Ahmed, The Role of Audit Committee in Corporate Governance: Descriptive Study (August 26, 2014). Available at SSRN: https://ssrn.com/abstract=2487167 or http://dx.doi.org/10.2139/ssrn.2487167

Dr. Ahmed Al-Baidhani (Contact Author)

University Putra Malaysia - Putra Business School ( email )

Universiti Putra Malaysia (Mosque)
Selangor, Selangor 43400
Malaysia

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