Under the CLERP 9 Reforms Governing Auditors,which of the Following

Multiple Choice

Under the CLERP 9 reforms governing auditors,which of the following statements are correct?
I The top 500 ASX listed companies must have an audit committee.
II Former auditors are prohibited from employment in or directorships of their former clients for a period of 2 years.
III The oversight of auditors has been strengthened by the FRC.
IV Audit partners must rotate off a company's audit after a period of 5 years.

A) I and IV;
B) I,II and III;
C) II,III and IV;
D) I,II,III and IV.