Listed companies are required to have audit committees but how good are they and what do they tell the board about the real risks the company needs to monitor?

This is the question being asked by the Australian Council of Super Investors, representing 30 superannuation funds with more than 4.5 million members and $55 billion in assets, in the wake of events that show some company audit committees failed to pick up early warning signs that risks were not being properly identified and monitored.

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