https://www.taxtmi.com/article/detailed?id=5651 Section 177 mandates an Audit Committee of at least three directors with a majority of independent directors and financial literacy among the chairperson and majority. The Committee's functions include recommending auditor appointment and remuneration; reviewing auditor independence and audit effectiveness; examining financial statements; approving or modifying related party transactions; scrutinising loans, investments and valuations; evaluating internal financial controls and risk management; monitoring public offer fund use; investigating matters, obtaining external advice and accessing records. Its recommendations are to be binding on the Board, with non acceptance disclosed in the Board's report. en-us Tue, 03 Jun 2014 09:35:10 +0530 Tue, 03 Jun 2014 09:35:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5651 Section 177 mandates an Audit Committee of at least three directors with a majority of independent directors and financial literacy among the chairperson and majority. The Committee's functions include recommending auditor appointment and remuneration; reviewing auditor independence and audit effectiveness; examining financial statements; approving or modifying related party transactions; scrutinising loans, investments and valuations; evaluating internal financial controls and risk management; monitoring public offer fund use; investigating matters, obtaining external advice and accessing records. Its recommendations are to be binding on the Board, with non acceptance disclosed in the Board's report. Articles Corporate Laws / IBC / SEBI Tue, 03 Jun 2014 09:35:10 +0530 https://www.taxtmi.com/article/detailed?id=5651