Which of the Following Is Not a Requirement of the ASX

question 25

Multiple Choice

Which of the following is not a requirement of the ASX Corporate Governance Council Principles and Recommendations?

• A)The audit committee should consist only of non-executive directors.
• B)The audit committee should consist of a majority of independent directors.
• C)The audit committee should consist of at least five members.
• D)The chair of the audit committee should not be the chair of the Board.

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Definitions:

Negligence

The failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances, resulting in harm or damage.

Auto Repair

Professional services aimed at diagnosing and fixing issues with vehicles, including maintenance, parts replacement, and cosmetic repairs.

Liability

A legal responsibility or obligation, often of a financial nature.

Ratification

The act of giving formal consent to a treaty, contract, or agreement, making it officially valid.