The aim of this investigation is to evaluate the effect of the “Audit Committee Characteristics” and “Audit Quality” on the “financial performance” of NSE listed companies in India. Content analysis has been done using the top 10 NSE-listed companies for 2020 to 2022 measuring the values of ROA, ROE, and market capitalization. The application of a theoretical framework of agency theory has also been employed and implications identified to analyze the effect of these research-dependent variables on the independent variables. The result of this investigation manifest that the companies that have higher results are less probable to require a greater AC. While, on the other hand, the companies that have lower ROE and ROA are in need of greater “audit quality” and “characteristics of the AC”.

The Indian conglomerate Reliance Industries Limited was the subject of this investigation in particular (RIL). Given the recent corporate governance scandals in India and the lack of empirical research on the topic, this study contributed to the current body of literature (Wahhab & Al-Shammari, 2021). This study employed a quantitative research methodology, specifically secondary data analysis. Data was gathered from RIL's annual reports for 2021 to 2022, and the Altman Z-score was used to gauge the quality of financial reporting (Pujiati & Nita, 2022). Using the factors developed, the effectiveness of the audit committee was evaluated. The study's findings were addressed in the relevant literature. Based on the findings, recommendations were made concerning India's audit committee composition and financial reporting.