alleryStart learning →Under s.177(2), an Audit Committee needs at least how many directors?
ATwo
BThree
CFive
DSeven
Answer & Solution
Correct answer: B. Three
The committee consists of a minimum of three directors, independent directors forming the majority.
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Related questions
Under s.177(8), the Board's report must disclose the composition of which body?The s.177(10) vigil mechanism gives direct access in exceptional cases to:At Audit Committee meetings on their report, the auditors have a right under s.177(7) to bUnder s.177(6), the Audit Committee may take professional advice from:Under s.177(4)(vii), the committee evaluates internal financial controls and:Under s.177(4)(iv), the committee approves which kind of transactions?Under s.177(1), who must constitute an Audit Committee?Under s.147(3), a convicted auditor must refund to the company: