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Prepare financial reports to meet statutory requirements

Prepare your report for the Board, covering the following matters:

a) Discuss the directors' concerns about the amount of resources being allocated to the monitoring process.

b) Outline the objectives of an audit committee.

c) Recommend terms of reference for the committee.

d) Identify who should constitute the committee.

e) Discuss the interaction between the audit committee and both the internal and external audit functions.

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