Reference no: EM132979382

Question - Explain your selected company's (commonwealth bank of Australia) and prepare the following responses about the application of audit committee effectiveness recommended by ASX Corporate Governance Council (CGC) principles using Corporate Governance Principles and Recommendations (4th Edition) was released on 27 February 2019?

i. Members of the audit committee meet all applicable independence requirements.

ii. The audit committee demonstrates appropriate industry knowledge and includes a diversity of experiences and backgrounds.

iii. Audit committee members have the appropriate qualifications to meet the objectives of the audit committee's charter, including appropriate financial literacy.

iv. Discuss about audit committee size and members profile.

v. Discuss about meeting arranged by audit committee chairman and whether member participate actively?

vi. The audit committee monitors compliance with corporate governance regulations and guidelines.