The annual reports of many public companies include a statement about management's responsibilities and relationship with the CPA firm.

Question

Quizplus · Accepted Answer

This statement is required by SEC regulations and is typically included in the Management's Discussion and Analysis (MD&A) section of the annual report. It outlines the company's responsibility for preparing the financial statements and the CPA firm's responsibility for auditing and providing an opinion on those statements.

The Annual Reports of Many Public Companies Include a Statement