Which of the following is not a responsibility of an audit committee?
A) Hiring, compensating, and overseeing the company's independent auditor relationship.
B) Receiving and addressing complaints about accounting, internal control, and auditing matters.
C) Resolving disagreements between management and the auditor regarding financial reporting.
D) Preparing the disclosures that accompany the financial statements in the company's annual report.

Question

Quizplus · Accepted Answer

The preparation of disclosures in the annual report is the responsibility of management and not the audit committee. The other three options listed are typical responsibilities of an audit committee.

Which of the Following Is Not a Responsibility of an Audit