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You are working for a company listed on the Australia Stock Exchange (ASX). Arthur Henderson is the Chairman of the board of directors. Mr Henderson considers that the main role of the audit committee is to communicate between the board and the external auditors. Mr Henderson considers that "Given the Corporation Act requires the company to provide true and fair information, if the financial report is audited by the external auditor, then internal audit is not necessary."
Required: Provide your comments regarding Mr Henderson's statement "Given the Corporation Act requires the company to provide true and fair information, if the financial report is audited by the external auditor, then internal audit is not necessary".
Draw on the readings from this unit (and other scholarly or journalistic sources, as appropriate) and units prior to support your assertions. Be sure to use APA format to cite sources.
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