Management of a company is responsible for

Question

Quizplus · Accepted Answer

Management is responsible for preparing the financial statements of a company, which includes gathering and compiling all relevant financial information for review by an auditor. However, the auditor is responsible for conducting an independent audit of those financial statements, which includes obtaining sufficient and appropriate evidence to support the information presented in the financial statements. Management is not responsible for hiring the auditor or preparing the audit workpapers.

Management of a Company Is Responsible for