It is for the audit committee chairman, in consultation with the company secretary, to decide the frequency and timing of its meetings. There should be as many meetings as the audit committee’s role and responsibilities require. It is recommended there should be not fewer than three meetings during the year, held to coincide with key dates within the financial reporting and audit cycle2. However, most audit committee chairmen will wish to call more frequent meetings. No one other than the audit committee‘s chairman and members is entitled to be present at a meeting of the audit committee. It is for the audit committee to decide if non-members should.
