Managements responsibilities for internal control over financial reporting include a. Ensuring the fair presentation of the financial

Question:

Management’s responsibilities for internal control over financial reporting include

a. Ensuring the fair presentation of the financial statements.

b. Assessing material misstatements in the financial statements due to errors and fraud.

c. Designing and implementing effective internal controls.

d. Ensuring the costs of control exceed the risks they eliminate.

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...

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