(c) The requirement is to identify the characteristic
that must apply to at least one member of the audit committee.
Answer (c) is correct because Sarbanes-Oxley requires that at
least one member of the audit committee be a financial expert.
Answer (a) is incorrect because all audit committee members
should be independent. Answer (b) is incorrect because the
chief financial officer is not independent and should not be on
the audit committee. Answer (d) is incorrect because while a
CPA would generally qualify as a financial expert, it is not required
that the financial expert be a CPA.