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Question 11 An audit committee must be comprised of outside directors and at least one outside financial expert. Which of the following is considered an outside director? Question 12 A proper system of corporate governance is one that demands Question 13 Section 304 of the Sarbanes-Oxley Act requires executives to forfeit any bonus or incentive-based pay or profits (including stock options) from the sale of stock received in the twelve months prior to an earnings restatement. This is often referred to as: Question 14 Which one of the following will provide auditing standards of public companies? Question 15