Which of the following is not an important consideration for the auditor's assessment of audit committee effectiveness?
A) Independence of audit committee members from management.
B) The audit committee's oversight of external financial reporting and ICFR.
C) The audit committee's approval of the external auditors' approach to the audit.
D) The audit committee's responsiveness to issues raised by the external auditors.

Question

Quizplus · Accepted Answer

The audit committee's approval of the external auditors' approach to the audit is not typically considered a direct measure of audit committee effectiveness. The primary responsibilities of an audit committee include oversight of the financial reporting process, internal controls, and the audit process, but not the approval of the specific audit approach, which is determined by the external auditors based on their professional judgment and audit standards.

Which of the Following Is Not an Important Consideration for the Auditor's