True or False: CPA's audit the budget plans of public companies.

The statement that CPAs audit the budget plans of public companies is false. Generally, Certified Public Accountants (CPAs) are responsible for auditing financial statements, which provide a summary of a company's financial performance and position. The focus of their audits is primarily on the accuracy and compliance of these financial statements with generally accepted accounting principles (GAAP) rather than the detailed budget plans.

Budgeting is an internal management process that involves forecasting income and expenditures, and while CPAs may provide guidance or consult on budgeting practices, they do not conduct formal audits of these plans as part of their standard auditing functions. This task typically falls more under management's purview, specifically the financial planning and analysis teams, rather than a CPA's core audit responsibilities. Therefore, the correct identification of the statement as false reflects the distinction between auditing financial statements and the internal budgeting processes of a company.