Question: Publicly traded corporations are required to have their financial statements
Publicly traded corporations are required to have their financial statements 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 corporation 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?
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