Can a non executive director sit on the audit committee for x Company even though this person was the auditor for x company 3 years ago and has financial experience?
Also the CEO of the x company employed his sister as a NED with no financial experience, but also sits on the audit committee.
Due to independence who would get rid off the audit committee?
I hope this makes sense.
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Corporate Govenance
8y ago#1Q1 Yes. It seems that the three gap is enough to create independencs.
Q2 No. Close family members are not independent.
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