Making fair representations in the financial statements is the responsibility of:
A) management.
B) the auditor.
C) the internal auditor.
D) all of the above

Question

Quizplus · Accepted Answer

Making fair representations in the financial statements is primarily the responsibility of management. The auditor's role is to provide reasonable assurance that the financial statements are free from material misstatements, but ultimately it is up to management to ensure that the statements are accurate and complete. Internal auditors may also play a role in reviewing the financial statements and providing assurance to management, but they do not bear the primary responsibility for the fairness of the financial statements.

Making Fair Representations in the Financial Statements Is the Responsibility