Section 46: Audit committee

46. Audit committee (1) Subject to subsection (2), every insurer shall, by resolution of the board, set up an audit committee consisting of such members and having such duties and functions as the board may, in accordance with guidelines issued by the Commission, determine. [Issue 1] I15 – 34 Revised Laws of Mauritius (2) Guidelines issued by the Commission under this section shall have regard to the class and legal form of the insurer. (3) The audit committee shall be open for attendance by the internal auditor and the external auditor who may also request and attend a meeting of the committee.