An audit client has invested heavily in new equity and debt securities. Which of the following would NOT constitute an appropriate role for the company's board of directors?
a. Receive and review periodic reports by the internal audit function on compliance with company investment policies and procedures.
b. Approve all new investments.
c. Review and approve written policies and guidelines for investments in marketable securities.
d. Periodically review the risks inherent in the portfolio of marketable securities to determine whether the risk is within parameters deemed acceptable by the board.
Answer: B
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.