The Capital Markets (Commodity Markets) Regulations

14. Audit committee and internal audit function

Edition: 2022-12-31 · In force

My notebook Discuss your situation

14. Audit committee and internal audit function

(1)The audit committee established by the board shall consist of the following—

(a)at least one third of its members who shall be independent directors;

(b)the Chairperson of the audit committee is an independent director;

(c)at least one of the members of the audit committee holds professional qualification in audit or accounting.

(2)The board shall establish an internal audit function which reports directly to the audit committee.

(3)The internal audit function shall be responsible for providing assurance to the board on the adequacy of the commodity exchange's internal controls and processes.

← Previous provision Next provision →

Source: Kenya Law