the paper covers the
following aspects related to anaudit committee: (a) The
structure and composition of an AC; (b) The criteria used
to select an AC members; (c) Examining the importance of
functions currently performed by an AC and also to analyze
any differences in the practices of companies in this regard;
(d) The areas of an AC review focus; and (e) The effects
of meetings on an AC functions. Finally, as part of this
study, an attempt will be made to examine and analyze the
trends about various characteristics of an AC, such as, their
size, composition and activity, as well as, extent of nonaudit
services provided by the auditors in the top 500 listed
Indian companies.