One of the objectives of a system of corporate governance is to secure the effective, sound andefficient operation of companies. This objective transcends any legislation or voluntary code.Good...

Extracted text: One of the objectives of a system of corporate governance is to secure the effective, sound andefficient operation of companies. This objective transcends any legislation or voluntary code.Good corporate governance embraces not only making the company prosper but also doingbusiness in a legal and ethical manner. A key element of corporate governance is the auditcommittee. The Audit Committee is a committee of the board of directors and is of a voluntarynature regulated by voluntary codes. Discuss the problems associated with initiatives that been put forward to ensure independenceof members of audit committee.