The audit committee is directly responsible for the appointment, compensation, and oversight of the work of any accounting firm employed by a public company.

Question

Quizplus · Accepted Answer

This statement is true as per the Securities and Exchange Commission (SEC) rules. The audit committee must select and oversee the work of the accounting firm that conducts the external audit of the company's financial statements.

The Audit Committee Is Directly Responsible for the Appointment, Compensation