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

question 61

True/False

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.

---

Definitions:

Diagnosis

The identification of the nature and cause of a health problem, usually through evaluation of patient history, examination, and review of diagnostic tests.

Good Reliability

Refers to the consistency and dependability of a test's or measurement's results over time, indicating accuracy and quality.

Instrument Selection

The process of choosing the appropriate tools or instruments for data collection, research, or experimentation based on specific criteria and objectives.

Resistance

In counseling and therapy, the reluctance or opposition of clients to discuss, explore, or engage with certain topics, emotions, or the therapeutic process itself.