Ultimate legal responsibility for the financial statements of a company rests with the:

Question

Quizplus · Accepted Answer

The ultimate legal responsibility for the financial statements of a company rests with the board of directors. They are responsible for ensuring that the financial statements are accurate and comply with accounting standards and regulations. Accounting firms are responsible for providing an opinion on the financial statements, but they do not have ultimate legal responsibility for them. The CEO is responsible for the overall management of the company, but is not specifically responsible for the financial statements. The ASX is a stock exchange and has no legal responsibility for the financial statements of companies listed on it.

Ultimate Legal Responsibility for the Financial Statements of a Company