Answer:
The statement is: False.
Explanation:
The Board of Directors is a group appointed or elected to represent shareholders at major companies. Every public company must have a Board of Directors to establish administrative policies including the hiring and firing of managers. To increase its effectiveness in monitoring them, it is preferable that an external executive or an auditor. In such a case, the third party would provide an objective analysis of the manager's activities instead of counting only with the personal perception of the manager on how the business should be conducted.
