Asked by LaTasha Simmons on Jun 28, 2024
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The audit committee of the board of directors is responsible for maintaining the integrity of a company's financial statements and financial reporting.
Audit Committee
A subset of a company's board of directors responsible for oversight of the financial reporting and disclosure process.
Financial Statements
Formal records of the financial activities and position of a business, individual, or other entity, typically including balance sheet, income statement, and cash flow statement.
Financial Reporting
Financial reporting involves the disclosure of financial results and related information to management and external stakeholders.
- Comprehend the responsibilities of a company’s management, audit committee, and external auditors in financial reporting and auditing.
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Learning Objectives
- Comprehend the responsibilities of a company’s management, audit committee, and external auditors in financial reporting and auditing.
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