Which of the following statements regarding corporate governance is not true?

Select one:

a. A company that implements an internal control system whose objectives are to safeguard assets, check the accuracy and reliability of accounting data, and promote operational efficiency is one that always can be said to have good corporate governance

b. The 2013 COSO IC components are widely used by managers to evaluate their corporate governance

c. It would be reasonable to say that a company has poor corporate governance if it has no internal controls designed and implemented to protect cash

d. Corporate governance refers to managing an organization in a fair, transparent, and accountable manner to protect the interests of all stakeholder groups