The audit committee is responsible for all of the following except:
A) Appointing and overseeing the external auditors
B) Directing investigations of possible fraud
C) Establishing internal control
D) Reviewing financial information

Question

Quizplus · Accepted Answer

The audit committee is responsible for appointing and overseeing the external auditors, directing investigations of possible fraud, and reviewing financial information. However, the establishment of internal control is primarily the responsibility of management. The audit committee can provide oversight and guidance in this area, but it is not their sole responsibility.

The Audit Committee Is Responsible for All of the Following