What is the two-tiered system

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Question - Some commentators argue that the two-tiered corporate structure, prevalent in many Continental European countries, is better suited for addressing corporate governance issues, including the issue of auditor independence, compared to a corporate structure with one board of directors, prevalent in Anglo-Saxon countries. What is the two-tiered system?

a. All questions are incorrect.

b. System where there is an audit company working on consolidated financial statements, while another independent audit company is focusing on subsidiaries financial statements.

c. System where there are 2 audit firms working on different components of financial statements, to ensure objectivity.

d. System where there is a management board and a supervisory board, and the audit responsibility is to the supervisory board.

Reference no: EM133070137

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