Audit committees are perceived to strengthen the independence of auditors. Which of the following is normally an objective of an audit committee?
A) ensuring that the entity operates in the best interests of the shareholders.
B) assisting the board of directors to discharge its responsibility to exercise due care, diligence and skill.
C) giving advice on the selection of the board of directors
D) all are objectives of an audit committee

Question

Quizplus · Accepted Answer

Audit committees are primarily responsible for assisting the board of directors in fulfilling its oversight responsibilities, which includes ensuring due care, diligence, and skill in financial reporting and auditing processes.

Audit Committees Are Perceived to Strengthen the Independence of Auditors