Question Two Demand for accountability and efficient use of resources in the public sector a key subject matter: Global financial crisis that began in mid-2007, spate of corporate failures and scandals coupled with globalization and expansion of financial markets are some of the factors that have led to increased demand for Audit. a)Discuss the effectiveness of audit committees in the public sector. (10 Marks)

b) Taking a case study of Greece, evaluate the consequences of excessive government borrowing on an economy (10 Marks)