Sec 301 - Public Company Audit Committees

Section 301 of the Sarbanes-Oxley Act requires each public company to establish an independent audit committee composed of board members who are not part of management. The committee must oversee the selection, compensation and performance of the external auditor, review the company's financial statements and internal controls, and receive any auditor-issued findings without interference. This provision aims to enhance the integrity of financial reporting and protect investors.