Audit committees provide independent advice and assurance to the accountable authority of an entity on the appropriateness of the entity's accountability and control framework, including to independently verify and safeguard the integrity of an entity's financial and performance reporting:
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- accountable authorities of Commonwealth entities must ensure that the entity has an audit committee in accordance with section 45 of the PGPA Act and section 17 of the PGPA Rule
- directors of Commonwealth companies must ensure that the company has an audit committee in accordance with section 92 of the PGPA Act and section 28 of the PGPA Rule.
