The Board of Directors is made up of the same individuals that are on the Audit Committee.

Question

Quizplus · Accepted Answer

The Board of Directors and the Audit Committee are separate entities, with the Board of Directors typically having a broader range of responsibilities including strategic planning, hiring and firing of the CEO, and oversight of company operations, while the Audit Committee typically focuses on financial reporting, risk management, and compliance. While some individuals may serve on both the Board of Directors and the Audit Committee, it is not the case that they are made up of the same individuals.

The Board of Directors Is Made Up of the Same