What is an Audit Committee?

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  • #197863
    Oimie
    Member

    Can someone clarify what is an audit committee. I am going through the review and it says that during an audit, the auditor may report certain things to the audit committee. Does each company have its’ own audit committee or is it just one separate independent entity like the IRS? And if it is actually that each company has its’ own audit committee, are they the same as internal auditors?

    FAR 85 June 2015
    AUD 80 Nov 2015
    REG 83 Nov 2015
    BEC 79 Feb 2016

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