One member of a company's audit committee must be an independent CPA.

Question

Quizplus · Accepted Answer

While it is required for audit committees, particularly in publicly traded companies, to have members who are financially literate and at least one member with financial expertise, there is no specific requirement that any member must be an independent Certified Public Accountant (CPA). The emphasis is on independence and financial literacy, not on holding a CPA designation.

One Member of a Company's Audit Committee Must Be an Independent