Australian Securities and Investments Commission (ASIC)

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Which of the following statements about the Australian Securities and Investments Commission (ASIC) is incorrect?

a. ASIC requires all auditors’ financial statements to be independently audited annually.

b. ASIC is a member of the International Forum of Independent Audit Regulators.

c. ASIC enforces independence requirements for auditors.

d. ASIC monitors the functions of the Australian Auditing and Assurance Standards Board (AUASB)

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