Provide a brief summary of the role audit committees and corporate governance play in ensuring effective oversight of the financial reporting process. What factors are necessary to ensure "good governance"? What characteristics are essential for the board and audit committees to remain objective in their oversight of the financial reporting process? How does compensation influence the audit committee's ability to be effective in their oversight role?

Answer rating: 100% (QA)

The audit committee role forms the key for effective corporate governance Boards rely on their audit ... View the full answer