Title III of SOX requires audit committees to be independent and undertake specified oversight responsibilities.

Question

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Title III of SOX, also known as the Public Company Accounting Oversight Board (PCAOB), requires audit committees to be independent and undertake specific oversight responsibilities in order to maintain the integrity of financial reporting and corporate governance. This includes selecting and overseeing the work of the company's external auditor, reviewing financial statements, establishing and monitoring internal controls, and receiving and responding to complaints regarding accounting or auditing matters.

Title III of SOX Requires Audit Committees to Be Independent