20. Corporate governance is the direct responsibility of the Board, thus they should not be covered by such policy. True False D21. Management's aggressive attitude toward financial reporting and its emphasis on meeting projected profit goals mos would significantly influence an entity's control environment when Management is dominated by one individual who is also a shareholder. Internal auditors have direct access to the board of directors and entity management. The audit committee is active in overseeing the entity's financial reporting policies. External policies established by parties outside the entity affect its accounting practices. 22