Which of the following is not one of management's responsibilities?
A) Ensuring accounting principles are following in preparing financial statements.
B) Engaging a qualified auditor.
C) Implementing effective internal controls.
D) Ensuring financial statements and disclosures are accurate.

Question

Quizplus · Accepted Answer

Engaging a qualified auditor is typically the responsibility of the board of directors or the audit committee, not management. Management is responsible for preparing financial statements, implementing internal controls, and ensuring accuracy in financial reporting.

Which of the Following Is Not One of Management's Responsibilities