A large corporation entered into a very significant long-term debt agreement during the current year.Which of the following would the auditors most likely be concerned with:

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The auditors would be most concerned with the approval of the long-term debt agreement by the corporation's Board of Directors. This is because the Board of Directors is responsible for the oversight and decision-making of major financial transactions and decisions for the corporation. The CEO, CFO, and Controller may have varying levels of involvement in the decision-making process, but ultimately it is the Board's responsibility to review and approve such significant agreements.

A Large Corporation Entered into a Very Significant Long-Term Debt