FRC's Guidance on Audit Committees

FRC's Guidance on Audit Committees outlines best practices for company boards’ committees responsible for overseeing financial reporting and audits. It emphasizes independence, expertise, and diligence to ensure accurate financial information, effective internal controls, and compliance with laws. The guidance advocates clear communication with auditors, robust risk assessment, and transparency to protect investors and stakeholders. Overall, it promotes strong governance, accountability, and integrity in financial processes within organizations.