Which Statement Is Incorrect

question 6

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)The ASX requires listed companies to disclose whether they have an audit committee
• D)Very few large companies in Australia have audit committees

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Definitions:

Collective Agreement

A written contract negotiated between an employer and a union representing the employees, outlining the terms and conditions of employment.

Union Dues

Fees paid by members to a labor union to support its operations and activities.

Bargaining Agent

A body certified to act on behalf of a group of employees or employers.

Bargaining Unit

A group of employees with a clear and identifiable community of interest who are represented by a single labor union in collective bargaining.