The latest amendments of the Independent Financial Audit Act introduce requirements for the foundation of an audit committee in the public-interest entities. The audit committee is elected by the general assembly or by the sole owner of the company's equity. The general assembly or the sole owner defines the committee's term and the number of its members. The public -, the requirements to the members of the audit committee and its functions are stated in the law. There are also quite a few changes in the law, that concern the registered auditors' activity.
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