If a company's audit committee is not actively involved in the financial reporting function, this is viewed by auditors as a weakness in internal control.

Question

Quizplus · Accepted Answer

The audit committee is responsible for overseeing the financial reporting function and ensuring the accuracy and completeness of financial statements. If they are not actively involved, it can indicate a weakness in internal control and may be viewed as a deficiency by auditors.

If a Company's Audit Committee Is Not Actively Involved in the Financial