The accuracy of the information contained in the financial statements is the responsibility of the

Question

Quizplus · Accepted Answer

The responsibility for the accuracy of the information contained in the financial statements lies with the management, as they are the ones who prepare and present the financial statements. The Certified Public Accountant (CPA) audits the financial statements and expresses an opinion on their fairness and conformity with generally accepted accounting principles, but it is ultimately management's responsibility to ensure the accuracy of the information. Stockholders have a responsibility to review the financial statements and make informed decisions based on their contents, but they do not have a direct responsibility for their accuracy. The Securities and Exchange Commission is responsible for regulating companies and enforcing securities laws, but they do not have a direct responsibility for the accuracy of financial statements.

The Accuracy of the Information Contained in the Financial Statements