All financial statements submitted to the SEC by publicly owned corporations must include an auditor's report prepared by
A) an internal auditor.
B) the firm's managerial accountant.
C) an independent certified public accountant.
D) anyone in the accounting department.

Question

Quizplus · Accepted Answer

All financial statements submitted to the SEC by publicly owned corporations must include an auditor's report prepared by an independent certified public accountant. This requirement is set by the SEC and helps ensure the accuracy and integrity of the financial statements. Internal auditors and managerial accountants are not considered independent and may have conflicts of interest, so their reports are not sufficient for these purposes.

All Financial Statements Submitted to the SEC by Publicly Owned