Which of the following report to the audit committee of the Board of Directors?
A) The treasurer and controller
B) The CFO and internal audit department
C) The internal audit department and the independent CPA firm
D) The CFO and the independent CPA firm

Question

Quizplus · Accepted Answer

The audit committee of the Board of Directors oversees the financial reporting process, internal control systems, and external audit processes. Therefore, it is appropriate for both the internal audit department and the independent CPA firm to report directly to the audit committee to provide independent assessments of the company's financial reporting and internal control systems. The treasurer, controller, and CFO may have interactions with the audit committee, but they do not report directly to the committee.

Which of the Following Report to the Audit Committee of the Board