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Turks And Caicos Forms Corporate Audit Body

by Mike Godfrey, Lowtax.net, Washington
05 August, 2014

The Turks and Caicos Islands Government Audit Committee, a non-executive body comprising private sector members, has held its first meeting in Grand Turk, as part of efforts to increase oversight of companies.

The Committee has been formed to improve the corporate governance framework in the islands following the financial crisis to up oversight of the executive boards of incorporate companies.

Addressing the Committee at its first full meeting, Governor Peter Beckingham said: "The Audit Committee will be an important addition to the oversight aspect of the governance framework in TCI. The role of this Committee is a challenging one, and it needs strong, independent members who are able to apply their wide range of skills and experience."

"The Committee is an excellent example of how the knowledge and expertise of the private sector can assist the public sector in meeting the significant challenges it faces."

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