Audit committee activities and responsibilities include which of the following? Preparation of financial statements Selecting the external audit firm Approving corporate strategy Reviewing management performance and determining compensation QUESTION 31 Which of the following statements is correct regarding the Public Company Accounting Oversight Board (PCAOB)? The PCAOB is a nonprofit corporation, not an agency of the U.S government The PCAOB will have five financially literate members who are prominent individuals of integrity and reputation with a commitment to the interests of investors and the public The PCAOB has authority to set standards related to public company audit repos and to conduct inspections of registered external audit firms. All of the above. QUESTION 32 Management of Premium Discovery Company is compensated through large salaries, stock options and bonuses tied to the company's working capital growth The CEO is constantly holding meetings to ensure that management is on target for increased operating income each month Based upon the above information only, what factor of the fraud triangle presents at the Premium Discovery Company? Pressure/incentive. Opportunity O Rationalization. Expectation. ere to ame allanacers an