Whatarethe key elementsof the auditcommittee'smandateandcharte?? Is thereanythingmissingfrom or questionableboutthe audit committee'smandateandcharterfor propercorporategovernance Ref. CanadianSecuritiesAdministratorsNationalInstrumentNI 52-110 The auditcommitteeoverseeseliable accurateandclearfinancialreportingto shareholders The auditorreportsdirectly to the committee The committeemustensurecompliancewith the law. It is composedentirely of independentirectors It meetswithout managemenpresent Its membersmustbe financially literate It hasthe authorityto conductany investigationor accessany officer, employeeor agentof the bank It obtainsadviceandassistancerom outsidelegal, accountingor otheradvisorsasnecessary