The party responsible for the financial statements of a company is the:
A) Shareholders of the company.
B) Management of the company.
C) Independent auditor.
D) Government.

Question

Quizplus · Accepted Answer

The management of the company is responsible for preparing and presenting the financial statements of the company. Shareholders have an interest in the financial statements, and the independent auditor provides an opinion on the accuracy and completeness of the financial statements, but the ultimate responsibility lies with the management. The government may also have a role in regulating financial reporting, but they are not the primary party responsible for the financial statements.

The Party Responsible for the Financial Statements of a Company