Which of the following statements is false?
A)The board of directors meets with the external auditors to discuss management's compliance with their financial reporting obligations.
B)The external auditors are selected by the Securities & Exchange Commission (SEC).
C)The Securities & Exchange Commission (SEC) requires publically traded companies to have their financial statements audited by an independent accountant.
D)The external auditors assume some responsibility with respect to the fairness of the financial statements.

Question

Quizplus · Accepted Answer

The external auditors are not selected by the Securities & Exchange Commission (SEC), but rather by the company's management or board of directors.

Which of the Following Statements Is False