The ultimate responsibility for monitoring a firm rests with the shareholders only. shareholders, board of directors,...

The ultimate responsibility for monitoring a firm rests with the shareholders only. shareholders, board of directors, independent accountants, and lenders. shareholders, board of directors, and independent accountants. shareholders and board of directors.

Expert Solution

Shareholders, Board of Directors, Independent Accountants and Lenders

Explanation

All mentioned above are known as the stakeholders of the company, the shareholders are responsible to monitor the firm because it is the actual owner of the firm and has made investment in the firm expecting its investment to grow over time with firm. So, monitoring by shareholders becomes important as they keep a track of the growth of the firm as well as their investment

Board of Directors determines the firm's strategy and manages the firm so they need to monitor the firm for the welfare of shareholders and other stakeholders

Independent Accountants keep a track of firms activities to determine whether the firm is on a right track as it mention or the case is different.They do so by auditing and analysing the financials of the firm frequently to ensure that it is on a right track

Lenders have provided the firm with their money so any adverse decision by the firm could put their money in danger therefore they also need to keep a track of the firms activities.

jeff jeffy answered 9 months ago

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