Which of the following rules governing a firm's audit committee did the Sarbanes-Oxley Act of 2002 institute?

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The Sarbanes-Oxley Act of 2002 instituted a rule that at least one member of the audit committee must be a financial expert, and that member must be clearly identified. Option A is also a rule instituted by the act, but the other options are not accurate. Option B is incorrect because the selection of the company's auditors is made by the audit committee, not the board of directors. Option C is incorrect because there is no requirement for all members of the audit committee to have accounting or finance degrees. The Sarbanes-Oxley Act of 2002 instituted the rule that at least one member of the audit committee must be a financial expert, and that member must be clearly identified. This rule aims to ensure that the audit committee is well-informed and able to oversee the financial reporting process effectively. The other options listed are not correct as the act actually states that at least 50% of the membership of the audit committee must consist of independent directors, the selection of the company's auditors must be made by the audit committee or person(s) delegated authority by the audit committee, and there are no requirements for all members of the audit committee to have accounting or finance degrees.

Which of the Following Rules Governing a Firm's Audit Committee