The audit committee should have the authority to hire and fire the external auditor.

Name: The audit committee should have the authority to hire and fire the external auditor.
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Question

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The audit committee is responsible for selecting and appointing the external auditor, as well as determining the remuneration to be paid. The committee should also have the authority to dismiss the auditor if necessary. This allows the committee to ensure that the audit process remains independent and objective.

The Audit Committee Should Have the Authority to Hire and Fire