Ebook Description :

The first disadvantages of having the audit committee are incurring the high costs to the entity most of the audit committee members are the senior person and no matter what kind of method we use to provide the benefit to them it is still expensive. The main advantage of this option is total independence of the performing auditor or audit committee this approach has the disadvantage of being expensive as well as again requiring the provision of internal personnel to give assistance as and when required. Advantages and disadvantages of audit committees an audit committee is a committee comprising of non executive directors which is able to view a companys affairs in a detached and independent way and collaborate effectively between the main board of directors and the external auditors. Advantages and disadvantages of audit committees the key advantage to an external auditor of having an audit committee is that such a committee of independent non executive directors provides the auditor with an independent point of reference other than the executive directors of the company in the event of disagreement arising advantage 1