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Management & Leadership vocabulary · Corporate Governance

Audit committee

Meaning in management & leadership, with examples

nounCommon term

In management & leadership, audit committee means: A board committee that oversees matters such as financial reporting, audit and internal controls.

In Turkish: denetim komitesi

How it is used

Use for board-level oversight; the committee's exact remit depends on the organisation and applicable framework.

Example sentences

  1. The audit committee asked management to explain weaknesses in the expense controls.

    The committee scrutinises management's controls rather than processing the expenses itself.

  2. Before the board meeting, the audit committee discussed the auditor's main findings.

    Specialist oversight helps the board examine assurance information.

Common collocations

  • audit committee chair
  • audit committee report
  • board of directorsThe group of people elected by a company's shareholders to oversee its management, approve major decisions and appoint or replace the chief executive.
  • complianceFollowing the laws, regulations, internal policies and standards that apply to an organisation; also the name of the department that checks this.

More terms: Corporate Governance

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