(1) The work, duties and powers of the audit committee shall be as follows:- (a) Submitting its report and suggestions to the committee regarding the bank's accounting, budget and audit procedures and control arrangements. (b) Auditing the periodic balance sheet and other documents of the bank and To ascertain whether such documents have been properly prepared. (c) To supervise the implementation of appropriate risk arrangements adopted by the bank. (e) Making regulations for the audit work of the bank in accordance with prevailing laws and international accounting standards and submitting it to the committee for approval. It should be given to the governor.