Which of the Following Is Not a Responsibility of an Audit

question 37

Multiple Choice

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.

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Definitions:

Activating Events

Situations or experiences that trigger a psychological response, often discussed in cognitive-behavioral therapy to address emotional reactions.

Unresolved Conflicts

Psychological term referring to internal or external disputes that an individual fails to find a resolution for, often leading to stress or psychological discomfort.

Rational-Emotive

A psychotherapeutic approach developed by Albert Ellis, focusing on resolving emotional and behavioral problems by changing irrational beliefs into more rational ones.

Cognitive-Behavioral

A psychotherapeutic approach that addresses dysfunctional emotions, behaviors, and cognitions through a goal-oriented, systematic process.