In addition to the preparation of financial statements, it is also the responsibility of those charged with governance to:
A. selecting and applying appropriate accounting policies and making reasonable accounting estimates.
B. establish and maintain internal controls that are effective in preventing and detecting material misstatements.
C. identify the financial reporting framework to be used in the preparation and presentation of their financial report.
D. all of the above.
Answer:D
In addition to the preparation of financial statements, it is also the responsibility of those charged with governance to:
A. selecting and applying appropriate accounting policies and making reasonable accounting estimates. B. establish and maintain internal controls that are effective in preventing and detecting material misstatements. C. identify the financial reporting framework to be used in the preparation and presentation of their financial report. D. all of the above.