https://www.taxtmi.com/article/detailed?id=9987 The Audit Committee must be constituted for specified public and listed companies, composed of a majority of independent directors with an independent chair, and include financially literate members with at least one member possessing accounting or related financial management expertise. Its functions include oversight of financial reporting and auditors, approval and review of related party transactions including omnibus approvals under specified criteria, evaluation of internal financial controls and risk management, review of internal audit and whistleblower mechanisms, investigation powers with access to records and external advice, and mandated disclosures in the board's report. en-us Tue, 07 Sep 2021 10:32:46 +0530 Tue, 07 Sep 2021 10:32:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9987 The Audit Committee must be constituted for specified public and listed companies, composed of a majority of independent directors with an independent chair, and include financially literate members with at least one member possessing accounting or related financial management expertise. Its functions include oversight of financial reporting and auditors, approval and review of related party transactions including omnibus approvals under specified criteria, evaluation of internal financial controls and risk management, review of internal audit and whistleblower mechanisms, investigation powers with access to records and external advice, and mandated disclosures in the board's report. Articles Corporate Laws / IBC / SEBI Tue, 07 Sep 2021 10:32:46 +0530 https://www.taxtmi.com/article/detailed?id=9987