Which of the Following Is the Responsibility of an Audit

question 28

Multiple Choice

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

• A) Oversee the internal control systems
• B) Oversee internal auditing and the independent public accounting function
• C) Monitor the financial reporting process
• D) All answers are correct

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Definitions:

React Quickly

The ability to respond or adapt promptly to changes or new information.

Evaluation

The systematic assessment of the value, quality, or importance of something.

Employee's Work Performance

The assessment of how efficiently and effectively an employee completes their assigned tasks.

Periodic Review

Regular examination or evaluation of a process, system, or financial account.