Audit Committees Empower Transparency, Safeguard Investors from Corporate Misconduct
The audit committee plays a crucial role in ensuring accurate financial reporting in public companies. It fosters a culture of honesty and transparency between management and auditors. Since the 1940s, audit committees have been recognized as essential for maintaining financial accuracy. After Enron's collapse, their duties have been enhanced. The article discusses the development of audit committees in the UK and Saudi Arabia, as well as their theoretical foundations.