Which of the options below is NOT a characteristic of the Audit Committee?

In preparation for listing on the UK stock market a company has started to set up the various committees needed to comply with the UK Corporate Governance Code.

It has identified the need for an Audit Committee and has listed the characteristics below but are not sure if they are all correct.

Which of the options below is NOT a characteristic of the Audit Committee?
A . Sets the external audit fee
B . Comprises of non-executive directors
C . Comprises of a majority of non-exective directors
D . Recommends appointment and removal of external auditors

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Answer: C