Pick the incorrect continuation: To effectively discharge its financial reporting responsibility, management should:

Question

Quizplus · Accepted Answer

The incorrect continuation is A because ensuring that published financial statements are not misleading and are free of material errors, irregularities, and fraud is a correct responsibility of management, but it does not directly relate to the proactive steps of assessing, managing risk, identifying conditions, or designing internal controls as the other options do. This choice is actually a correct action for management, making my initial interpretation incorrect. All options correctly outline management's responsibilities in financial reporting and fraud prevention.

Pick the Incorrect Continuation: to Effectively Discharge Its Financial Reporting