Which Statement Is Incorrect

question 22

Multiple Choice

Which statement is incorrect?

• A) An audit committee acts as a corporate governance device.
• B) An audit committee helps to ensure the independence of the internal audit process.
• C) In Australia large companies must have an audit committee.
• D) The audit committee should strive to ensure continual improvement in accountability.

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Definitions:

Categorize

To classify or organize items or ideas into specific groups or classes based on shared characteristics or criteria.

Other-Race Effect

The tendency to more easily recognize faces of the race that one is most familiar with (also known as cross-race effect or own-race bias).

Recognition

The process of identifying something or someone previously seen, known, or experienced.

Social Changes

Alterations in the social structure, patterns, and behavior of a society over time.