Which of the following statements are True? a) The financial statements are management's responsibility. b) Management is responsible for adopting sound accounting policies and establishing and maintaining internal control c) The fair presentation of financial statements in conformity with applicable financial reporting framework is an explicit and integral part of auditor's responsibility. Only a) and b) All a) , b) and c) Only b) and c) Only a)
Which of the following statements are True? a) The financial statements are management's responsibility. b) Management is responsible for adopting sound accounting policies and establishing and maintaining internal control c) The fair presentation of financial statements in conformity with applicable financial reporting framework is an explicit and integral part of auditor's responsibility. Only a) and b) All a) , b) and c) Only b) and c) Only a)
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 2CYBK
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Which of the following statements are True?
a) The financial statements are management's responsibility.
b) Management is responsible for adopting sound accounting policies and establishing and maintaining internal control
c) The fair presentation of financial statements in conformity with applicable financial reporting framework is an explicit and integral part of auditor's responsibility.
Only a) and b)
All a) , b) and c)
Only b) and c)
Only a)
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