The work, duties and powers of the Audit Committee constituted as per sub-section (1) of Section 164 shall be as follows:-
(a) To review the company's accounting and financial statements (financial statements) and verify the truth of the facts mentioned in such statements,
(B) To review the company's internal financial control system (Internal Financial Control System) and risk management system (Risk Management System),
(c) Supervise and review the work related to internal audit of the company,
(d) Recommending the names of potential auditors for the appointment of auditors of the company and determining their remuneration and terms of appointment and submitting them to the general meeting for approval,
(e) To monitor and review whether or not the auditor of the company has followed the conduct, standards and guidelines determined by the authorized body in accordance with the prevailing laws, (f) To determine the policy to be adopted by the company in relation to the appointment and selection of auditors based on the conduct, standards and guidelines prepared by the authorized body according to the prevailing law,
(G) To prepare and implement accounting policy of the company,
(h) If any regulatory body has provided detailed information (long firm audit report) to be disclosed in the audit report of the company, fulfill the necessary conditions for preparing such information,
(i) To perform other tasks assigned by the Board of Directors in relation to the company's accounts, financial arrangements and audits.