The responsibility to review the work of the accountants and issue opinions as to the fairness of the financial statements rests with
A) the external auditor.
B) the board of directors.
C) the internal auditors.
D) management.

Question

Quizplus · Accepted Answer

The responsibility to review the work of the accountants and issue opinions as to the fairness of the financial statements is the main role of an external auditor. They are independent of the company and provide assurance to stakeholders that the financial statements are free from material misstatement. The board of directors oversees and governs the activities of management, while the internal auditor provides independent and objective assurance on the effectiveness of the company's risk management, control, and governance processes. Management is responsible for preparing the financial statements and ensuring that they are accurate, complete, and comply with accounting standards.

The Responsibility to Review the Work of the Accountants and Issue