Management's responsibilities for the financial statements do not include which of the following?
A) selecting and applying appropriate accounting policies
B) expressing an opinion on the financial statements
C) establishing and maintaining internal controls
D) making reasonable accounting estimates

Question

Quizplus · Accepted Answer

The responsibility of expressing an opinion on the financial statements is the auditor's responsibility, not management's. Management is responsible for selecting and applying appropriate accounting policies, establishing and maintaining internal controls, and making reasonable accounting estimates.

Management's Responsibilities for the Financial Statements Do Not Include Which