Sarbanes-Oxley Requires That the Audit Committee Be Composed of

question 197

Multiple Choice

Sarbanes-Oxley requires that the audit committee be composed of

• A) At least 50% of key officers who are on the board of directors
• B) A majority of all of the members of the board of directors
• C) The outside members of the board of directors and the external auditor
• D) Entirely outside members of the board of directors

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Definitions:

Contract Law

The body of law that governs the formation, execution, and enforcement of agreements between parties.

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Judicial awards made to fairly resolve a legal issue or dispute, including injunctions, specific performance, and rescission, based on principles of equity rather than fixed law.

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