In a corporate environment:

Question

Quizplus · Accepted Answer

In a corporate environment, the shareholders own the company and elect the board of directors who are responsible for overseeing shareholder interests. The board of directors then delegates the responsibility to manage the company to the management team. The audit committee is a committee of the board of directors, not part of the management team, and is responsible for ensuring financial reporting accuracy and compliance with relevant laws and regulations.

In a Corporate Environment