text: In that respect , the role of the audit committee , which in some cases has not been very active or effective in its oversight of management or auditors as related to financial reporting , is evolving into not just financial management oversight , but the overall aspects of the company 's financial reporting , such as releases on earnings expectations and quarterly financial reports .
  
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  The audit committee has not always handled management or auditors in financial reporting effectively , but its role is now becoming involved in releases on earnings expectations and quarterly financial reports , both overall aspects of the company 's financial reporting , in addition to financial management oversight .