Is CPA responsible for preparing financial statements? Discuss
the responsibility and functions of CPA with evidence...
Is CPA responsible for preparing financial statements? Discuss
the responsibility and functions of CPA with evidence of annual
report. Also name the different Financial statements that audited
by external auditors at Saudi Aramco.
2- Is CPA responsible for preparing financial statements?
Discuss the responsibility and functions of CPA with evidence of
annual report. Also name the different Financial statements that
audited by external auditors at from Al Marai 2019 repot
A statement of responsibility declares that:
the auditors are responsible for the financial statements, and
the statements are free from material misstatement.
management is responsible for the financial statements, and the
statements are free from material misstatement.
management is responsible for the financial statements, and the
statements are prepared in accordance with GAAP.
the auditors are responsible for the financial statements, and
the statements are prepared in accordance with GAAP.
he financial statements are the responsibility of _________,
and the responsibility of the _____________ is to express an
opinion on the financial statements based on the audit.
A.
management, SEC
B.
management, auditor
C.
auditor, management
D.
SEC, auditor
Management has the responsibility of accurately preparing
financial statements when communicating with investors and
creditors. Another group, auditors, serves an independent role by
helping to ensure that management has in fact appropriately applied
GAAP in preparing the company's financial statements. Auditors
examine (audit) financial statements to express a professional,
independent opinion. The opinion reflects the auditors’ assessment
of the statements’ fairness, which is determined by the extent to
which they are prepared in compliance with GAAP. Suppose an auditor
is...
A new employee has been given responsibility for preparing the
consolidated financial statements of Sample Company. After having
attempted to work alone for some time, the employee is seeking
assistance to gain an overall understanding of the ways in which
the consolidation process works. You have been asked to provide
assistance in explaining the consolidation process. Describe how
you would frame your comments, accounting for each of the following
questions:
1. Why must the eliminating entries be entered in the...
Consolidation Process
A new employee has been given responsibility for preparing the
consolidated financial statements of Sample Company. After
attempting to work alone for some time, the employee seeks
assistance in gaining a better overall understanding of the way in
which the consolidation process works. You have been asked to
assist in explaining the consolidation process.
Why must the eliminating entries be entered in the
consolidation worksheet each time consolidated statements are
prepared?
How is the beginning-of-period non-controlling interest balance...
Are auditors responsible for frauds? Discuss the auditor
responsibility for the detection of errors and frauds? Support your
answer from the Annual report of Saudi Aramco.
7- Are auditors responsible for frauds? Discuss the auditor
responsibility for the detection of errors and frauds? Support your
answer from the Annual report of 2019 of Saudi Aramco