Give a introduction of about 300 words and cover all sub headings in it.
Role of audit committee in Wesfarmes and Woolworths limited
1. Introduction
2. Composition of the audit committee (independence, Financial literacy, professional and higher education accounting qualification, critical thinking, high ethical disposition)
3. Role of the audit committee (why need the audit committee) in Wesfarmers and Woolworths limited.
4. How the audit committee works?
5. Issues in audit committee.
6. Conclusion.