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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Audit committe
When can a Chairman head the audit committe for a company?
Never.
Provision C.3.1 of the UK Corporate Governance Code provides that listed company boards in the UK should establish an audit committee of at least three, or in the case of smaller companies two, independent non-executive directors. In smaller companies the company chairman may be a member of, but not chair, the audit committee in addition to the independent non-executive directors, provided he or she was considered independent on appointment as chairman.