Question

    What is the minimum number of members required to form

    an Audit committee of the Board?
    A 2 Correct Answer Incorrect Answer
    B 3 Correct Answer Incorrect Answer
    C 4 Correct Answer Incorrect Answer
    D 1/3rd of Board strength Correct Answer Incorrect Answer
    E 50% of Board strength Correct Answer Incorrect Answer

    Solution

    Companies Act, 2013 - Section 177 – Audit Committee The Board of Directors of every listed public company and such other class or classes of companies, as may be prescribed, shall constitute an Audit Committee. The Audit Committee shall consist of a minimum of three directors  with independent directors forming a majority.

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