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Kim Smith.
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- July 15, 2021 at 3:38 am #627785
maam is the audit committee and remuneration committee both entirely composed of independent NEDs? and if so then why, specifically what’s the problem with having non-independent NEDs? with respect to executive directors i understand the problem of self-review threat.
and secondly if chair can be a member of nomination committee (at all times except when the committee is discussing succession of Board) and remuneration committee , then why can’t the chair be a part of the audit committee also, after all he’s an independent NED? my text explicitly disallows chair from being on the Audit committee.
July 15, 2021 at 11:12 am #627833Yes the audit committee and remuneration committee should be composed of independent NEDs (i.e. all). I don’t understand what you are asking.
If you think of the audit committee as the “highest” level of oversight and the chair of the audit committee as having a casting vote, then that shouldn’t be the same person who leads the board.
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