Question: Audit committees do not prepare financial nor do they conduct audits. But they have an essential role to play in ensuring the integrity and transparency

Audit committees do not prepare financial nor do they conduct audits.

But they have an essential role to play in ensuring the integrity and transparency of corporate reporting". Explain this statement? Who should be members of the Audit Committee? Is there an association between Audit committee effectiveness and audit quality after IFRS adoption?

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