According to The Sarbanes-Oxley Act of 2002,the audit committee of the board of directors is directly responsible for
A)hiring and firing the external auditors.
B)performing tests of the company's internal control structure.
C)certifying the accuracy of the company's financial reporting process.
D)overseeing day-to-day operations of the internal audit department.

Question

Quizplus · Accepted Answer

According to Section 301 of the Sarbanes-Oxley Act, the audit committee is directly responsible for hiring and firing the external auditors. This ensures that the external auditors are independent and objective in their audit of the company's financial statements. The other responsibilities listed are important, but they fall under the purview of management or internal audit, not the audit committee.

According to the Sarbanes-Oxley Act of 2002,the Audit Committee of the Board