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audit committee

An audit committee is a group within an organization's board of directors responsible for overseeing financial reporting, internal controls, and the external audit process. Its main purpose is to ensure the integrity of financial statements and compliance with laws and regulations. The committee typically reviews financial practices, monitors risks, and communicates with auditors to ensure that the organization operates transparently and accountable. This oversight helps protect the interests of stakeholders, including shareholders, employees, and the public, by fostering trust and accuracy in the organization's financial dealings.

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    An Audit Committee is a group within a company's board of directors responsible for overseeing financial reporting and ensuring the integrity of the financial statements. They work with internal and external auditors to monitor compliance with laws and regulations, assess risks, and recommend improvements. The committee plays a crucial role in maintaining transparency and accountability, helping to build trust with shareholders and the public by ensuring that the company’s financial practices are sound and reliable. Essentially, they help ensure that the company's financial health is accurately reported and managed responsibly.