What Roles Do the Audit Committee and Compensation Committee of an Organization

question 85

Essay

What roles do the audit committee and compensation committee of an organization play in ensuring good governance?

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Definitions:

Valid and Enforceable

Legally binding and capable of being executed or implemented under the law.

Voluntary Consent

Knowing and voluntary agreement to the terms of a contract. If voluntary consent is lacking, the contract will be voidable.

Same Bargain

The agreement or deal that was originally made or intended by the parties involved, without any alterations.

Accept Without Adding

To agree or receive something as it is without making any modifications or changes.