Which of the following is NOT a potential duty of an audit committee? A. Review of financial statements B. Review of shareholders register C. Review of Internal Audit D. Liaison with external auditors
Question
Which of the following is NOT a potential duty of an audit committee? A. Review of financial statements B. Review of shareholders register C. Review of Internal Audit D. Liaison with external auditors
Solution
B. Review of shareholders register
This is not typically a duty of an audit committee. The primary responsibilities of an audit committee usually include the review of financial statements, oversight of internal controls and risk management, liaison with external auditors, and review of the internal audit function. The maintenance and review of the shareholders register is usually a responsibility of the company secretary or the legal department, not the audit committee.
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