Audit Committees: How effective are they? How should they respond to the challenges of Covid-19 (and variants)?

Audit Committees: How effective are they? How should they respond to the challenges of Covid-19 (and variants)?
The Audit Committee is one of the most important corporate governance company's parts. The Audit Committee facilitates the board of directors' effective performance through control over the financial and economic activities (Buallay and Al-Ajmi 2019).
The audit committee has an independent position in forming opinions and providing information to shareholders regarding financial reporting and internal control (Gebrayel et al., 2018).
Among the main areas of activity of Audit Committees should be highlighted (Asiriuwa et al. 2018):

Sphere of financial (accounting) reporting
Sphere of internal control and risk management
Scope of Compliance
Scope of reporting violations
Scope of external audit
Scope of internal audit

Thus, the Audit Committee is intended to help the board of directors oversees the financial reporting process to ensure comparability, reliability, and transpare...