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EFFORTS TO IMPLEMENT A FINANCIAL- MANAGEMENT INFORMATION SYSTEM IN IRAQ

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We also see a wider role for audit committees, in typical circumstances, inensuring that the company has sound internal financial control systems andsystems for the control of non-financial risks, of the kind dealt with in theTurnbull report ‘Internal Control – Guidance for Directors on the CombinedCode’. Some boards may decide to take on this role themselves or to delegate itto a separate ‘risk committee’, and we would not wish our guidance to removethose options. Audit committees have a particular role in underpinning the assurance thatboards give to shareholders of the integrity of the company’s audit and internalcontrol processes....
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EFFORTS TO IMPLEMENT A FINANCIAL- MANAGEMENT INFORMATION SYSTEM IN IRAQ

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