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Review of internal audit 
They should look at the objectivity, technical knowledge and 
professional standards of the internal auditors. They should also 
review the scope, resources and results of the audit. 
Review of internal control 
They should play a significant role in reviewing the adequacy of 
internal controls. 
Investigations 
They will be involved in implementing and reviewing the results of 
one-off investigations. 
Review of risk management 
They must ensure that there is a formal policy in place and review 
the arrangements for risk management. (This may be carried out by 
a separate risk committee instead, see below.) 
 
4
Reporting on corporate governance 
Annual reports must 
convey
a 
fair and balanced view
of the organisation. They should state whether the 
organisation has complied with governance regulations and codes, and give specific disclosures about 
the board, internal control reviews, going concern status and relations with stakeholders.
 EXAM FOCUS POINT 
The Syllabus and Study Guide for this exam requires students to study only two committees. These are 
the remuneration committee and the audit committee
BPP Tutor Toolkit Copy

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PART B: BUSINESS ORGANISATION STRUCTURE, FUNCTIONS AND GOVERNANCE 
 
190
 
4.1 Reporting requirements
Listed companies are required to make the following general disclosures. 
(a) A 
narrative statement
of how they have 
applied the principles
set out in the UK Corporate 
Governance Code (FRC, 2018), providing explanations which enable their shareholders to assess 
how the principles have been applied 
(b) A