What agency has the ultimate authority in defining independence for public companies?

Question

Quizplus · Accepted Answer

The SEC (Securities and Exchange Commission) has the ultimate authority in defining independence for public companies. The SEC is a government agency responsible for protecting investors, maintaining fair and efficient markets, and facilitating capital formation. The SEC has established rules and regulations regarding the independence of auditors and audit committees for public companies, including guidelines on relationships that could impair an auditor's independence.

What Agency Has the Ultimate Authority in Defining Independence for Public