https://www.taxtmi.com/acts?id=17473 Section 177 requires an Audit Committee of at least three directors with a majority of independent directors and members able to read financial statements, reconstitution where necessary, and written terms of reference. The committee must recommend auditor appointment and remuneration, monitor auditor independence and audit effectiveness, examine financial statements and auditors' reports, scrutinise and approve related party transactions, review inter corporate loans and investments, assess valuations, internal financial controls and risk management, monitor use of public offer funds, investigate matters within its remit, obtain external advice, and access company records; auditors and key managerial personnel may be heard but not vote. en-us Sat, 02 Mar 2013 13:08:45 +0530 Tue, 09 Dec 2025 18:04:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17473 Section 177 requires an Audit Committee of at least three directors with a majority of independent directors and members able to read financial statements, reconstitution where necessary, and written terms of reference. The committee must recommend auditor appointment and remuneration, monitor auditor independence and audit effectiveness, examine financial statements and auditors' reports, scrutinise and approve related party transactions, review inter corporate loans and investments, assess valuations, internal financial controls and risk management, monitor use of public offer funds, investigate matters within its remit, obtain external advice, and access company records; auditors and key managerial personnel may be heard but not vote. Act-Rules Companies Law Sat, 02 Mar 2013 13:08:45 +0530 https://www.taxtmi.com/acts?id=17473