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As an accounting graduate, your students ask about the benefits of a company having an audit committee and the ways in which this committee contributes

As an accounting graduate, your students ask about the benefits of a company having an audit committee and the ways in which this committee contributes to better company governance.

In your answer discuss the duties of this committee taking into account:

Their specific duties relating to the contents of the annual financial statements.

The duties in terms of s94(7) of the Companies Act.

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