In the recent past, audit committees have become a common mechanism for corporate governance internationally. Corporate governance is the process by which the director of a particular company ensures the smooth running of the company. This strictly involves monitoring management and reporting to shareholders. Ultimate power often rests with shareholders, who are relatively weak compared to directors. Indeed, in most institutions, shareholders are the source of financing and, when they are unhappy, they can sell their shares. Notably, government agencies, researchers and regulators in various countries have raised questions about the effectiveness of audit committees and their significant contribution to corporate governance. Attempts have been made to strengthen the role of audit committees to address corporate governance issues. For example, Cadbury (1992) in the United Kingdom. Many changes have taken place over time, all related to audit committees whose functioning has been influenced by structural and cultural differences internationally. This has resulted in an increasing degree of harmonization and codification. The growing global acceptance of the audit system as one of the relevant governance structures creates a conducive environment for business operations. This article will critically analyze and evaluate the effectiveness of the corporate audit and governance system. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an Original Essay The effectiveness of the organization's performance is mainly evaluated through system audits. For example, in the case of an information system, an information system audit is integrated to measure the degree of effectiveness. The primary objective of the systems audit is to determine whether the systems audit is helping to protect the company's assets, whether the organization is operating effectively, and whether the organization is effectively supporting the company's objectives. Another objective is to determine whether the organization maintains the integrity of the data communicated and stored. The financial audit of organizations is the one that participates in the verification of financial statements and accounting records. In most cases, to improve proper auditing of systems in the age of technology, information systems are designed (Abbott, 2000 p. 50). Information systems help in tracing every financial transaction made, hence the efficiency of financial reporting. These make it possible to rely on the data provided by these systems in balance sheets, statements of affairs, general ledgers and other accounting practices. Apart from financial audit, operational audits can also be carried out in an organization. Operational audits are primarily used in evaluating the effectiveness and efficiency of operations in information systems. Additionally, technology audits can be used to verify that the choice of information technology is made appropriately, well configured and well implemented. Remuneration levels to retain, motivate and attract directors of the required quality must be sufficient to enable the company to operate successfully. But the company must take precautions to avoid many payments that are not necessary for this purpose. A significant part of executive directors' remuneration should be structured to serve as a link between rewards and individual and collective performance.