1. What are the characteristics of the relationship between the audit committee, management and external auditors in financial reporting? 2. Define the relationship between the audit committee and...

1. What are the characteristics of the relationship between the audit committee, management and external auditors in financial reporting?

2. Define the relationship between the audit committee and internal auditing.

3. What are the main responsibilities of the audit committee with regard to the internal audit function?

4. Explain the responsibilities of the audit committee in risk management. What are the important features of Enterprise Risk Management (ERM)?

5. Explain the role and the importance of the audit committee in a company’s internal control.