Which one of the following statements about audit committees is NOT correct?
A) Ideally, members should be actively involved in company management.
B) They help to keep auditors independent of management.
C) Members are selected from a company's board of directors.
D) Most have 3- 5 members.

Question

Quizplus · Accepted Answer

Audit committees are meant to be independent of company management and should not be actively involved in day-to-day operations. Ideally, they should be comprised of independent directors who have relevant expertise in areas such as accounting, finance, and internal controls.

Which One of the Following Statements About Audit Committees Is