External auditors are responsible for maintaining the internal controls for each company they audit.

Question

Quizplus · Accepted Answer

External auditors are not responsible for maintaining internal controls for the companies they audit. Their role is to provide an independent opinion on the accuracy of the financial statements and the effectiveness of the company's internal controls. It is the responsibility of the company's management to establish and maintain internal controls.

External Auditors Are Responsible for Maintaining the Internal Controls for Each