Boards of directors and managers are not expected to take responsibility for overseeing and managing compliance and ethics programs.

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In governance, boards and senior management are expected to oversee and manage ethics and compliance programs. The board sets the tone at the top, approves the program, allocates resources, and requires ongoing reporting and independent monitoring. Management is responsible for implementing the program, day-to-day operations, and taking corrective actions when issues arise. This oversight is essential for accountability, risk management, and maintaining a culture of integrity. Therefore, the statement is false. The other options don’t fit because this oversight role is a recognized responsibility in good governance; claiming uncertainty or non-applicability isn’t appropriate in this context.