The Audit Committee Is a Subcommittee of the Board of Directors

question 15

True/False

The audit committee is a subcommittee of the board of directors comprised of independent outside directors.

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Definitions:

Functional Design

Pertains to a method of organization where activities are grouped together by common functions or specialties, like marketing or finance, within a company.

Network Design

The strategic planning and layout of a computer network including hardware, software, connectivity, and information flow.

Minimizing Bureaucracy

Involves reducing excessive red tape, rules, and formalities to make an organization more efficient and adaptable.

Horizontal Design

An organizational structure emphasizing collaboration, teamwork, and communication across departments and levels, with few hierarchical barriers.