The Sarbanes-Oxley Act requires that all public companies have an audit committee comprised of at least three independent financial experts and at least one other person.

Question

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The Sarbanes-Oxley Act requires that all members of the audit committee be independent, but it does not specify that they must be financial experts, nor does it mandate a minimum number of financial experts. It does require the audit committee to have at least one member who is a financial expert or to disclose why there is no such expert on the committee.

The Sarbanes-Oxley Act Requires That All Public Companies Have an Audit