It is management's responsibility to ensure that financial statements are fairly and truthfully presented.

Question

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The management of a company is responsible for preparing its financial statements in accordance with applicable accounting standards and ensuring that they are fairly and truthfully presented. This responsibility is known as management's responsibility for financial reporting. However, it is important to note that external auditors also play a crucial role in reviewing and verifying the accuracy of financial statements.

It Is Management's Responsibility to Ensure That Financial Statements Are