Which of the following would not be a correct statement about a partial cause of corporate governance failures?

a. Boards of directors approved stock option plans that did not align management and shareholder objectives.

b. Audit committees met infrequently, only for an hour at a time.

c. The AICPA became a trade association concerned with enhancing the wealth of its members.

d. Accounting principles became more specific to address the complexities that existed in new transactions.