Audit committees monitor management's financial reporting responsibilities.

Question

Quizplus · Accepted Answer

Audit committees are responsible for overseeing the financial reporting process and ensuring that it is accurate, complete, and in compliance with relevant standards and regulations. They also work with external auditors to review financial statements and other important financial information, and may provide guidance and support to management in making decisions related to accounting and financial management.

Audit Committees Monitor Management's Financial Reporting Responsibilities