Question
Consider the following statements regarding the Audit Committee under Section 177 of the Companies Act, 2013: Statement 1: The Audit Committee must consist entirely of Independent Directors. Statement 2: The Audit Committee has authority to investigate matters related to audit, financial statements, and internal controls. Statement 3: Auditors have a right to be heard when the Audit Committee considers the auditor's report but cannot vote in committee meetings. Statement 4: The Audit Committee can make omnibus approval for related party transactions. Which statements are correct?
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