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3.2 FRC Guidance on audit committee

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

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