Which of the following statements related to registration of new securities is false?
a. Registration of new securities is governed by the Securities Act of 1933.
b. Form S - 1 , the basic form for new security registration, is an elaborate checklist of rules to be followed and questions to be answered.
c. A " private placement " may be exempt from detailed registration requirements.
d. The independent public accountant reviews and audits information included in the registration statement.