In the aftermath of frauds like ZZZZ Best and Enron, SOX beefed up the requirements to belong on the audit committee, as well as its responsibilities. These include which of the following?
a. The external auditor follows the audit program of the audit committee.
b. The Chair of the audit committee is independent of the auditor and should, therefore, stay “at arm’s length” during the audit.
c. The audit committee meets with the auditor and management to assure all are in concert and everyone.
d. The audit committee is independent of management.