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The nature and frequency of engagement between shareholders and board members is changing. These changes are creating and are likely to continue creating a number of potential challenges and complexities for all involved parties. For example, it is still unclear as to how to determine whether an engagement has been a success or not.
The annual general meeting is a vitally important event for investors, as it provides a forum where the significant aspects of corporate and financial performance of the company are shared and deliberated. It is even more importantly the place and time at which a number of strategic decisions, which will affect the company direction and future growth, are approved.
Across the globe, the function of the audit committee is to provide recommendations, guidance and advice to the board of companies and organisations. Specific responsibilities and requirements for an audit committee can vary by country, however, the framework of the audit committee role is often influenced by economic and political factors and unionised groups who are capable of campaigning for and passing through evolved legislation.