Which of the following is not true about the audit committee of the board of directors?
A)They meet with the auditors to discuss management's compliance with their financial reporting responsibilities.
B)They ensure the accuracy and completeness of all reports provided to the Securities & Exchange Commission (SEC).
C)They are responsible for ensuring that processes are in place for maintaining the integrity of the financial statement preparation and reporting.
D)They are responsible for hiring the company's external auditors.

Question

Quizplus · Accepted Answer

The audit committee plays a crucial role in overseeing the financial reporting process, but ensuring the accuracy and completeness of all reports provided to the SEC is typically a broader responsibility that involves the entire board of directors and senior management, not just the audit committee.

Which of the Following Is Not True About the Audit