The audit committee is a subcommittee of the board of directors responsible for overseeing the financial reporting process, the audit of the company's financial statements, and the effectiveness of the company's internal control systems. The reporting of the audit committee to both the board and shareholders serves to enhance confidence in the integrity of the company's financial reporting and governance processes. It demonstrates the commitment of the company to transparency and responsible financial management, which is essential for maintaining trust among shareholders and stakeholders.

 Discuss the minimum reportable items of the audit committee on the execution of their mandate?