The primary responsibility for the information reported by a company rests with which of the following?

Question

Quizplus · Accepted Answer

The primary responsibility for the information reported by a company rests with the company's management. Management is responsible for ensuring that the financial statements are accurate and complete, and for disclosing any relevant information to stakeholders. The auditors provide an independent opinion on the financial statements, but the ultimate responsibility for the accuracy of the information rests with management. The Canada Revenue Agency and local city council may have regulatory oversight, but they are not responsible for the day-to-day management and reporting of a company's financial information.

The Primary Responsibility for the Information Reported by a Company