Question

Please discuss whether management accountants have the same ethical responsibilities and external auditors, please support your claims.

Answer 1

^{Firstly external auditors are responsible for auditing the company's financial statements and providing reasonable assurance they are presenting fairly in conformity with the generally accepted accounting principles and they reflect the true and fair position and operations of the company}

^{on the other hand the management accountants ethical responsibility is}

^{They must prepare financial statements fairly in accordance with standards on auditing and ensure that no item is omitted from the accounting records because based on the accounting information presented by the management accountant external forms his opinion}

^{hence from the above we can conclude that both accountant and external auditor to present the True and fair view of the financial statements. But information is presented to the shareholders in case of external auditor and management for decision making purpose in case of management accountant}

^{thank you}