Publicly traded corporations are required to have their financial statements audited by an independent auditor. The Canadian

Question:

Publicly traded corporations are required to have their audited by an independent auditor. The Canadian Securities Administrators National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings requires the chief executive officer (CEO) and chief financial officer (CFO) of a to certify that they have evaluated the effectiveness of the company's internal control over financial reporting. Why would the CEO and CFO be responsible for certifying the effectiveness of the controls and not the independent auditor?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...