A buyer's broker is required to verify square footage reported by a listing broker.

Which of the following is not an objective of the auditor's examination of notes payable?

A) to determine whether internal controls are adequate B) to determine whether client's financing arrangements are effective and efficient C) to determine whether transactions regarding the principal and interest of notes are properly authorized D) to determine whether the liability for notes and related interest expense and accrued liabilities are properly stated

Both the SEC and the PCAOB require management to use the COBIT framework for assessing internal control adequacy

Indicate whether the statement is true or false