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4 - 2 3 ( Objective 4 - 5 ) The national stock exchanges require listed companies to have an independent audit committee. a .

4-23(Objective 4-5) The national stock exchanges require listed companies to have an
independent audit committee.
a. Describe an audit committee.
b. What are the typical functions performed by an audit committee?
c. Explain how an audit committee can help an auditor be more independent.
d. Describe the nature of the audit firms communications with the audit committee
regarding independence issues.

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