The article focuses on how audit committees operate within businesses. It looks at factors that influence how often audit committees meet and how diligent they are. The researchers studied data from many firms over five years and found that audit committee diligence is linked to factors like financial expertise and how long members have been on the committee. They also found that when these committees are more diligent, companies tend to have better governance and lower agency costs. One interesting discovery was that after the Sarbanes-Oxley Act in 2002, audit committees became more diligent.