New rules requiring board audit committees to review interim financial statements and “sign off” on annual financial statements before they are filed with the Securities and Exchange Commission were adopted by the commission Dec. 15.

The commission also approved new listing requirements for corporations traded on the New York Stock Exchange, Amex, and the Nasdaq Stock Market. The new rules require companies to have “independent” audit committees consisting of at least three “financially literate” directors and one accounting or financial management “expert.” In addition, companies must have written charters for their audit committees. Under the listing requirements, “independence” is defined as having no business or familial relationships with management.

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