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Financial terms in "Business and Management"

1. reach

2. Firmware

3. Emotional Intelligence

4. Fortune 500

5. Statistician

6. relocate

7. Private Sector

8. Glamping

9. Deed Of Partnership

10. variation

11. price maker

12. Gazelle

13. With Profits

14. Supertax

15. glass ceiling

16. Anchor Tenant

17. Agribusinesss

18. price rigging

19. force majeure

20. Merchant Bank

21. Kerb Market

22. Notary

23. Refer To Drawer

24. Compensation Fund

25. Extension Strategy

26. Internet Cafe

27. Qualitative analysis

28. Rogue Trader

29. No-Load Fund

30. Factory Price

31. Vested

32. New Issue

33. Benefit Principle

34. Looping

35. Memo

36. distress sale

37. Absolute Advantage

38. consumer goods

39. consumer goods marketing

40. Power Brand

41. Trade

42. Quorum

43. alien corporation

44. Offline

45. Username

46. Wage Slave

47. E-Tailer

48. Top Dollar

49. product life cycle pricing

50. Recession

51. noise

52. 360 Degree Feedback

53. minimum acceptable rate of return

54. Qualified Opinion

55. Covenant

56. continuous inventory

57. Econometrics

58. Valid

59. independent contractor

60. Virtual Reality

61. SDN

62. Financial Times

63. tactics

64. Truth In Lending Act

65. Trust

66. white label product

67. nominal

68. price efficiency

69. beauty parade

70. Verbal Judo

71. valuable

72. stock incentive plan

73. disclosable event

74. ramp up

75. Retainer

76. PRO

77. severance pay

78. hard goods

79. Capital Gains Tax

80. Undercut

81. White Van Man

82. Market-To-Market

83. Shareholder

84. remittance advice

85. mega cap

86. Intangible Asset

87. Audit committee

88. Motivational Research

89. Holding Company

90. negotiation

91. Generalist

92. Structural Engineer

93. Chain Of Command

94. Scrip

95. Double-Blind

96. Sales Ledger

97. Purchase Ledger

98. Hall Test

99. Ad hoc

100. Offer Document

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Featured term of the day

Definition / Meaning of

Audit Committee

Categories: Accounting, Tax, Business and Management,

The corporate audit committee is the liaison between the company's management, the board of directors, internal and external auditors, and any other accounting experts advising the company on audit issues.In particular, the audit committee is responsible for hiring and managing external auditors. Since 2002, when Congress passed the Sarbanes-Oxley Act, implementing stringent financial oversight regulations, the role of the audit committee has become increasingly important.An audit committee is composed of a sub-group from the corporation's board of directors. Members of the audit committee must be independent, which means they have no ties to the company's management team. In general they cannot receive any compensation, such as consulting or advisory fees, except for a board of director's fee. They may not be able to own shares in the company, or be affiliated in any other way with the company. Nor can they be affiliated with or have an interest in the external auditing company.

Most popular terms

1. Sarbanes-Oxley Act Of 2002
2. Act-as-one Provision
3. Lump-sum Distribution
4. Tax Exempt
5. Immigration Violation Coverage Endorsement
6. Passively Managed
7. Synthetic Investment
8. NASD
9. Distribution
10. Inflation-adjusted Principal

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