The objective of the Financial Reporting Council does not include:
A) to oversee the process used for setting accounting and auditing standards
B) to monitor and report regularly on matters concerning auditor independence
C) to be involved in the technical issues around the standard-setting process.
D) all of the above are included in the objectives of the Financial Reporting Council

Question

Quizplus · Accepted Answer

The Financial Reporting Council's objective is not to be involved in the technical issues around the standard-setting process. Its other objectives include overseeing the process used for setting accounting and auditing standards and monitoring and reporting regularly on matters concerning auditor independence. Therefore, option D is incorrect as it suggests all options are included in the objectives.

The Objective of the Financial Reporting Council Does Not Include