Choose from:

1. Responsibility of management
2. Responsibility of the auditor

From the list of responsibilities provided below, classify each as either a responsibility of management or a responsibility of the auditor. List of responsibilities: 1. Expressing an opinion on the financial statements based on the audit. 2. Establishing and maintaining internal controls relevant to the preparation and fair presentation of the financial statements that are free from material misstatements, whether due to fraud or error. 3. Selecting and applying appropriate accounting policies. 4. Stating that the audit was conducted in accordance with auditing standards (including compliance with relevant ethical requirements). 5. Describing the audit. 6. Making accounting estimates that are reasonable in the circumstances. 7. Stating that the auditor believes that the audit evidence obtained is sufficient and appropriate to provide a basis for the auditor's opinion