This Director Factsheet is courtesy of McCann FitzGerald
An audit committee is an essential component of any well-managed company (other than a particularly small entity). As with any committee of a company, the detail of an audit committee’s functions, powers and operations are supplied by its terms of reference. For certain sized companies the Companies Act 2014 requires there to be an audit committee or that the company explains in its annual report why it has decided not to appoint such a committee.