Audit committee quality characteristics

It is not as difficult and elusive as the definition of Corporate Governance compared to finding a definition for the Audit Committee. Many definitions are now reviewed related to Audit Committee. Many authors like Birkett-1986, Cadbury Committee-1992, and Collier-1992 have defined the Audit Committee as the existence of a sub-committee of the main board comprised mostly of non-executive or independent directors with responsibility for oversight of auditing activities. There has been increased requirement for the Audit Committee to be comprised only of independent non-executive directors.