According to the ASX Corporate Governance Council,an audit committee should:

Question

Quizplus · Accepted Answer

The ASX Corporate Governance Council recommends that the majority of members of the audit committee should be independent directors. This ensures that the committee operates objectively and provides effective oversight of the organization's financial reporting and internal controls. The other options are incorrect as the audit committee should have a formal charter outlining its role and responsibilities, and there is no requirement for it to be chaired by the chairman of the board of directors or have at least four members.

According to the ASX Corporate Governance Council,an Audit Committee Should