The accuracy of information included in footnotes accompanying the audited financial statements issued by a company whose shares are traded on a stock exchange is the primary responsibility of
A) The stock exchange officials.
B) The independent auditor.
C) The company's management.
D) The Securities and Exchange Commission.

Question

Quizplus · Accepted Answer

The company's management is primarily responsible for the accuracy of information in the financial statements and accompanying footnotes. The independent auditor's role is to provide an opinion on the fairness of the financial statements, but the preparation and accuracy of the information is the responsibility of management.

The Accuracy of Information Included in Footnotes Accompanying the Audited