Cost auditor participation in audit committee meetings permitted as non-member attendee with no voting rights. Cost auditors may be invited to attend and participate in audit committee meetings to assist on cost management and related matters but are not members and have no voting rights. The audit committee is to be constituted only from directors; auditors and internal auditors may attend to present views, and where a cost auditor acts as an internal auditor they may participate without voting. Any view that cost auditors can be committee members is incorrect.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Cost auditor participation in audit committee meetings permitted as non-member attendee with no voting rights.
Cost auditors may be invited to attend and participate in audit committee meetings to assist on cost management and related matters but are not members and have no voting rights. The audit committee is to be constituted only from directors; auditors and internal auditors may attend to present views, and where a cost auditor acts as an internal auditor they may participate without voting. Any view that cost auditors can be committee members is incorrect.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
