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Explain any three characteristics of audit committee

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Reference no: EM133102160

Question -

(a) In order for auditors to operate effectively and to provide an opinion on an entity's financial statements, they are given certain rights.

Required - Explain THREE (3) rights of an auditor, excluding those related to resignation and removal.

(b) ISA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment requires auditors to obtain an understanding of control activities relevant to the audit. Control activities are the policies and procedures that help ensure that management directives are carried out; and which are designed to prevent and detect fraud and error occurring, amongst its purposes.

Required - Explain FOUR (4) control activities a company may undertake to prevent and detect fraud and error.

Explain any THREE (3) characteristics of audit committee.

Identify the FIVE (5) principles of corporate governance.

Reference no: EM133102160

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