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Hi sir, regarding the corporate governance topic. I just want to clarify some things. For march/june 2016 exam, question 1, regarding the weakness that the chairman chairs the audit committee, i have many doubts.
1) Is a chairman allowed to chair a committee ? Or is he just not allowed to chair the audit committee ?
2) Does the chairman’s independence got anything to do whether he can chair the committee or not ?
Could you please explain sir ?
Committees should be chaired by independemt NEDs, which could be the chairman.
Okay. So, the weakness in this question is that the chairman is not an independent NED since he is a former ED of Tangerine. Therefore, he shouldn’t chair the audit committee right ?
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