3. Who bears ultimate responsibility for the financial statements? a. Management of the organization, equally with the external auditor that audits the statements. b. Management of the organization and the American Institute of Certified Public Accountants (AICPA). C. Management of the organization. d. Management of the organization, and the Public Company Accounting Oversight Board (PCAOB).
3. Who bears ultimate responsibility for the financial statements? a. Management of the organization, equally with the external auditor that audits the statements. b. Management of the organization and the American Institute of Certified Public Accountants (AICPA). C. Management of the organization. d. Management of the organization, and the Public Company Accounting Oversight Board (PCAOB).
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter1: Quality Auditing: Why It Matters
Section: Chapter Questions
Problem 14RQSC
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Transcribed Image Text:3. Who bears ultimate responsibility for the financial statements?
a. Management of the organization, equally with the external auditor that audits the statements.
b. Management of the organization and the American Institute of Certified Public Accountants
(AICPA).
C. Management of the organization.
d. Management of the organization, and the Public Company Accounting Oversight Board (PCAOB).
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