For each requirement below, state how it is intended to help to address the risk of fraud in publicly traded organizations.

a)Boards must have a compensation committee composed entirely of independent directors.

a)The compensation committee must have a written charter that addresses the committee's purpose and responsibilities, which must include (at a minimum) the responsibility to review and approve corporate goals relevant to CEO compensation, make recommendations to the board about non-CEO compensation and incentive-based compensation plans, and produce a report on executive compensation; there must also be an annual performance evaluation of the committee.

a)Boards must have an audit committee with a minimum of three independent members.

a)The audit committee must have a written charter that addresses the committee's purpose and responsibilities, and the committee must produce an audit committee report; there must also be an annual performance evaluation of the committee.

a)Companies must adopt and disclose corporate governance guidelines addressing director qualification standards, director responsibilities, director access to management and independent advisors, director compensation, director continuing education, management succession, and an annual performance evaluation of the board.