audit committee


audit committee
audit committee n: a corporate committee made up of usu. outside directors who review audits and evaluations of the corporation and its officers

Merriam-Webster’s Dictionary of Law. . 1996.

audit committee
USA
In a publicly-held company, an operating committee of the company's board of directors. An audit committee of a publicly traded company in the US is composed of independent and outside directors referred to as non-executive directors. The duties of an audit committee are typically outlined in a committee charter, often available on the company's website, and relate to selecting the company's auditors and overseeing the audit of the company and the preparation of the company's annual and quarterly financial statements.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

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