Final answer:
The incorrect statement about the special function performed by the external auditing profession is that it serves the interests of client management rather than the public, as their role is to assure the integrity and fairness of financial statements to shareholders and the wider public.
Step-by-step explanation:
The question relates to the special functions performed by the external auditing profession. The answer to the question, 'Which of these is not true regarding the special function performed by the external auditing profession?' is c. It serves the interests of client management rather than the public. External auditors are primarily responsible for providing assurance on the integrity and fairness of a company's financial statements to the shareholders and public, rather than serving the interests of client management. The primary functions include ensuring the reliability of the financial reporting system, serving the users of the organization's financial statements, and attesting to the fairness of the client's financial statements. Ineffective corporate governance, such as in the case of Lehman Brothers, can lead to failures where investors do not receive accurate financial information about a firm's operations.