Which of the following are true with respect to an audit committee? OE. The audit committee is elected by the shareholders. OD. The audit committee also pre-approves all non-audit services. OC. The audit committee will be responsible for appointing the external auditors, and this will strengthen the auditors independence and contribute to a channel of communication and forum of issues. OB. Having an audit committee is optional for public companies in Canada. OA. It will help to improve the quality of the financial reporting, the audit committee will assist by reviewing the financial statements. OF. It is recommended that the CEO be a member of the audit committee.

Which of the following are true with respect to an audit committee? OE. The audit committee is elected by the shareholders. OD. The audit committee also pre-approves all non-audit services. OC. The audit committee will be responsible for appointing the external auditors, and this will strengthen the auditors independence and contribute to a channel of communication and forum of issues. OB. Having an audit committee is optional for public companies in Canada. OA. It will help to improve the quality of the financial reporting, the audit committee will assist by reviewing the financial statements. OF. It is recommended that the CEO be a member of the audit committee.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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