Which of the Following Is the Responsibility of an Audit

question 48

Multiple Choice

Which of the following is the responsibility of an audit committee?

• A)oversee the internal control system
• B)oversee internal auditing and the independent public accounting function
• C)monitor the financial reporting process
• D)all of the above

---

Definitions:

Risk

The possibility of loss, injury, or other adverse or unwelcome circumstance; a chance or situation involving such a possibility.

Shared Leadership

A leadership approach where responsibilities and roles are distributed among group members, rather than centralized in a single leader.

Team Cohesiveness

The extent to which team members are attracted to the team and motivated to stay in it, characterized by strong bonds, mutual support, and a shared sense of belonging.

Needs Satisfaction

The fulfillment of personal or psychological requirements or desires, which can motivate behavior and increase job performance.