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3. Who bears ultimate responsibility for the financial statements? a. Management of the organization, equally with the external auditor that audits the statements. b. Management
3. Who bears ultimate responsibility for the financial statements? a. Management of the organization, equally with the external auditor that audits the statements. b. Management of the organization and the American Institute of Certified Public Accountants (AICPA). C. Management of the organization, d. Management of the organization, and the Public Company Accounting Oversight Board (PCAOB). 4. Professional Skepticism is best described as: a. A character that does not waiver. b. A trusting manner. C. A questioning mind. d. An attitude of intrusion and obstinacy 5. Considering the demand for auditing services, which of the following involves "fully paying managers what they are worth"? a. Economic Justice theory b. Motivational theory c. Needs of Investors and Creditors theory d. Principal-Agent theory
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