•  Recommendation for appointment, remuneration and terms of
  appointment of auditors of the company;
• Review and monitor the auditor’s independence and performance,
  and effectiveness of audit process;
• Examination of the financial statement and the auditors’ report
  thereon;
• Approval or any subsequent modification of transactions of the
  company with related parties;
• Scrutiny of Inter-Corporate Loans and Investment;
• Valuation of undertaking or assets of the company, wherever it is
  necessary;
• Evaluation of internal financial controls and risk management
  systems;
• Monitoring the end use of funds raised through public offers and
  related matters;
• Calling comments of the auditors about internal control systems, the
  scope of audit, including the observations of the auditors and review
  of financial statement before their submission to the Board and
  Discussing any related issues with the internal and statutory auditors
  and the management of the company;
• Investigation into any matter in relation to the items specified above
  or referred to it by the Board and for this purpose committee shall
  have power to obtain professional advice from external source;
• Committee shall have access to information contained in the records
  of the Company;
• discussion with internal auditors of any significant findings and
  follow up there on;
• consider and comment on rationale, cost-benefits and impact of
  schemes involving merger, demerger, amalgamation etc., on the
  listed entity and its shareholders

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