Which of the following is not true about the audit committee of the board of directors?
A) They meet with the auditors to discuss management's compliance with their financial reporting responsibilities.
B) They ensure the accuracy and completeness of all reports provided to the Securities & Exchange Commission (SEC).
C)They are responsible for ensuring that are in place for maintaining the integrity of the financial statement preparation and reporting.
D)They are responsible for hiring the company's external auditors.

Question

Quizplus · Accepted Answer

The audit committee does not ensure the accuracy and completeness of all reports provided to the SEC; this is primarily the responsibility of management. The audit committee oversees the financial reporting process and the audit.

Which of the Following Is Not True About the Audit