Which of the Following Statements Is False

Multiple Choice

Which of the following statements is false?

A) The board of directors meets with the external auditors to discuss management's compliance with their financial reporting obligations.
B) The external auditors are selected by the Securities & Exchange Commission (SEC) .
C) The Securities & Exchange Commission (SEC) requires publicly traded companies to have their financial statements audited by an independent auditor.
D) The external auditors assume some responsibility with respect to the fairness of the financial statements.