Role of Audit Committee on Corporate Governance  – Experience and Expertise of audit committee has a significant influence and positive bearing on the financial performance of the companies

Kiran Kumar

Volume : V, Issue : VIII, August - 2015

Role of Audit Committee on Corporate Governance – Experience and Expertise of audit committee has a significant influence and positive bearing on the financial performance of the companies

Kiran Kumar

Abstract :

The seeds of modern CG were probably sown by the Watergate scandal in the United States. As a result of subsequent investigations, US regulatory and legislative bodies were able to highlight the control failures that had allowed several major Corporations to make illegal political contributions and to ibe government officials.Audit Committee an organism devised to support the board of Directors that by virtue of delegation will aide in the examination, evaluation and permanent surveillance of the accounting and financial system of the corporation, constant verification of the independence criteria before the external auditor, as well as the follow–up of proceedings of internal systems of management controls. The effectiveness of audit committee are based on the characteristics of independence, financial expertise and diligence.