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Hi,
Regarding Audit Committee members, does there have to be at least 3 NEDs in the committee or do all the members have to be NEDs? I am asking as I had seen that there must be at least 3 NEDs, however to me it makes more sense if they are all NEDs seeing as they are the link between the board and external auditors and the executive directors may be reluctant to expose some of the external auditors findings to the stakeholders.
Thanks!
There shall be at least three neds AND all the members of the audit committee should be neds.
Put a different way….all the members of the audit committee should be neds and there should be at least three of them!
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