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audit committee

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › audit committee

  • This topic has 1 reply, 2 voices, and was last updated 3 years ago by Kim Smith.
Viewing 2 posts - 1 through 2 (of 2 total)
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  • July 15, 2021 at 3:38 am #627785
    Noah098
    Member
    • Topics: 935
    • Replies: 352
    • ☆☆☆☆☆

    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 #627833
    Kim Smith
    Keymaster
    • Topics: 134
    • Replies: 8304
    • ☆☆☆☆☆

    Yes 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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