Roles Of Audit Committee
Audit Committee In Ethiopia
An audit committee is a subset of a company's board of directors.
An audit committee is a committee of an organization's board of directors
which is responsible for oversight of the financial reporting process,
selection of the independent auditor, and receipt of audit results both
internal and external.
1, Oversight of the financial reporting and disclosure process.
2. Monitoring choice of accounting policies and
3. Overseeing hiring. Performance and independence
of external auditors.
4. Oversight of regulatory compliance , ethics.
5. Monitoring the internal control process.
6. Overseeing the performance of the internal audit function.
7. Discussing risk management policies and practices with management.
8. to support council in fulfilling its governance and oversight responsibilities in relation to
financial reporting, internal control structure, risk management systems, internal and
external audit functions and ethical accountability.
In Ethiopia, the audit committee is a mandatory requirement for all public
interest entities, including listed companies, banks, insurance companies,
and other regulated entities.
The requirements for the audit committee are outlined in the Ethiopian
Commercial Code, which was amended in 2014 to strengthen corporate