Describe Management's Responsibility Regarding Audited Financial Statements
Management has primary responsibility for the fairness of the financial statements and internal control. The financial statements adequately refer to or describe the applicable financial reporting framework. Fs Audit Evaluate the following statement. . The act requires such a brokerage firm to file audited financial statements with the SEC annually. The auditors are responsible for performing an independent audit of the financial statements and issuing a report on them in accordance. The auditors are responsible for performing an independent audit of the financial statements and issuing a report on them in accordance with generally accepted auditing standards. If the auditors disagree with management regarding an accounting principle used in the financial statements the auditors should express their views in the notes to the financial statements. To form an opinion on the financial statements the auditor concludes as to wh...