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Chapter 13 4
3.2 FRC Guidance on audit committees
The guidance is designed to assist company boards when implementing the
Corporate Governance Code. It covers the following areas:
Membership, appointment and skills of committee members
Committee meetings
Resources
Remuneration of committee members
Relationship with the board
Responsibilities in relation to annual reports
Internal control and risk management responsibilities
Internal audit process
External audit process
Communication with shareholders
Illustrations and further practice
More details of this guidance are given in Chapter 1
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