The audit committee is responsible for all of the following except
A) engaging the company's independent auditors.
B) assuring that reliable accounting records are kept.
C) auditing the company's financial statements.
D) ascertaining that the company safeguards its resources.

Question

Quizplus · Accepted Answer

The audit committee is responsible for oversight of the external audit process and assuring that reliable accounting records are kept, but they do not actually perform the audit of the company's financial statements.

The Audit Committee Is Responsible for All of the Following