4 1.6 Identify which of the following statements are true. 1 The directors of a company are ultimately responsible for the preparation of financial statements, even if the majority of the work on them is performed by the finance department 2 If financial statements are audited, then the responsibility for those financial statements instead falls on the auditors instead of the directors. 3 There are generally no laws surrounding the duties of directors in managing the affairs of a company. o 1 only o 2 only o 2 and 3 only o 1 and 3 only (2 marks)