Those charged with governance of an organization ________.
A)should always be sure to look out for their own interests as well as those of the company
B)cannot be legally held responsible for the actions of the company
C)should rely on the auditors for guidance
D)have an obligation to be concerned with the entity's financial reporting to shareholders and the investing public

Question

Quizplus · Accepted Answer

Those charged with governance have a responsibility to oversee the entity's financial reporting to shareholders and the investing public, and to act in the best interests of the company as a whole. They cannot prioritize their own interests over that of the organization. While auditors can provide guidance, ultimately the responsibility lies with those charged with governance. They can also be held legally responsible for any misconduct or negligence.

Those Charged with Governance of an Organization ________