What is an Audit Committee
An Audit Committee is a group of individuals who are responsible for overseeing the financial reporting and internal controls of a family office. Their role is to ensure accuracy, transparency, and compliance in all financial matters.
Different roles within an Audit Committee
The Audit Committee typically consists of members with financial expertise, including accountants, financial advisors, and legal experts. Their responsibilities may include reviewing financial statements, assessing risk management strategies, ensuring compliance with legal and regulatory requirements, and liaising with external auditors.
