Which of the Following Statements Is NOT True Concerning the Independent

Which of the following statements is NOT true concerning the independent external audit?

A) The SEC requires all publicly traded companies to have their internal controls audited by external auditors.
B) Many privately owned companies have their financial statements audited at the request of lenders.
C) The goal of the external audit is to detect material misstatements.
D) The auditors are required to check every transaction in order to provide assurance to financial statement users.