Discuss the benefits of forming an audit committee in an organization?

Forming an audit committee reinforce the function of internal audit department.  Concerns or issues raised in the audit report can be resolve in a timely manner if an audit committee is establish within an organization. It can also ensure that important audit values are keep and maintained such as the integrity and independence of the entity reviewing the audit reports.

Benefits are: *To improve oversights over the city's financial and budgetary controls -To learn more about how is the city managed -To demonstrate leadership in ethics and accountability

An independent audit committee can ensure the carry out of audit neutrally & in an coordinated way to achieve the objective of audit to ensure the compliance of SOP in every stages of operation.