Choice "B" is correct. The financial expert serving on the audit committee of an issuer must have experience with internal controls. The financial expert qualifies through education or past experience as an auditor or finance officer for an issuer of similar complexity.
Choice "c" is incorrect. The financial expert qualifies through education or past experience as an auditor or finance officer for an issuer of similar complexity. The expert should have an understanding of GAAP, application of GAAP, an understanding of internal controls and an understanding of audit committee functions. There is no requirement to have a limited understanding of GAAS.
Choice "a" is incorrect. The financial expert qualifies through education or past experience as an auditor or finance officer for an issuer of similar complexity. The expert should have an understanding of GAAP, application of GAAP, an understanding of internal controls and an understanding of audit committee functions. There is no requirement to have education and experience as a certified financial planner.
Choice "d" is incorrect. The financial expert qualifies through education or past experience as an auditor or finance officer for an issuer of similar complexity. The expert should have an understanding of GAAP, application of GAAP, an understanding of internal controls and an understanding of audit committee functions. There is no requirement to have experience in tax return preparation.