We also see a wider role for audit committees, in typical circumstances, in ensuring that the company has sound internal financial control systems and systems for the control of non-financial risks, of the kind dealt with in the Turnbull report ‘Internal Control – Guidance for Directors on the Combined Code’. Some boards may decide to take on this role themselves or to delegate it to a separate ‘risk committee’, and we would not wish our guidance to remove those options. Audit committees have a particular role in underpinning the assurance that boards give to shareholders of the integrity of the company’s audit and internal control processes
