Increased poor corporate governance practices across the globe have accentuated the importance of the Board Audit Committee. The Committee has the responsibility of holding the Management accountable in several areas, particularly financial reporting, external & Internal audit, compliance and internal controls. Therefore, the Chairman of the Committee has a vital role to play in ensuring the effectiveness of the Committee. In this article, Inioluwa Acquah and Ibrahim Alagbe explain how the Audit Committee Chair can drive effectiveness of the Committee.
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