Management is responsible for the preparation of the financial statements, including the notes, and the auditor's report attests to the fairness of the presentation.

Question

Quizplus · Accepted Answer

This statement is true. The management of a company is responsible for preparing its financial statements, while the auditor's role is to review and test the statements to ensure that they are presented fairly and accurately. The auditor's report then confirms that the statements are in compliance with accounting standards and regulations.

Management Is Responsible for the Preparation of the Financial Statements