Discuss some salient features of corporate governance code with particular reference to functions of the audit committee. 1. The code of Corporate Governance was introduced by the SECP in October 2001. It was incorporated in the listing regulations in March 2002 and is now applicable to all public companies listed on three stock exchanges of Pakistan. 2. The Code…

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Corporate governance is the system by which the companies are directed and controlled. The objective of corporate governance is to establish accountability for effective and efficient operations of companies. It is concerned with control environment, control procedures, risk management, and on going monitoring including operation of the audit committee. Background In limited companies shareholders provide substantial funds to directors. The shareholders…

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