audit committee
- A subgroup within a company, typically comprised of external directors, that is responsible for overseeing the audits and assessments of the corporation and its executives
- The audit committee reviewed the internal audit findings before the annual shareholder meeting.
- Despite its refined procedures, the audit committee discovered significant financial discrepancies during their yearly review.
- If the audit committee identifies any irregularities in the corporate financial statements, they report it to the board of directors immediately.
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