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Who has the responsibility for the financial statements

Assignment Help Managerial Accounting
Reference no: EM131041362

Management Responsibility

After reading Case "Management Responsibility" in the textbook, write an essay that includes the following elements:

A formal introduction.

Answers to questions (a) through (d) of the case, focusing on the company's earnings, internal control, and financial reporting.

a. Who has the responsibility for the financial statements?

b. What is the role of the accountant (auditor) as to the financial statements?

c. Accountants (auditors) are often included as defendants in lawsuits that relate to the financial statements. Speculate as to why this is the case.

d. Why did 3M include the report "Management's Report on Internal Control Over Financial Reporting"?

A conclusion.

Your submitted paper should be at least 2-3 pages long and written according to following APA style, and properly referenced.

Note that the textbook author is citing a source in this case, which must be considered when forming your references and citations.

Case study attached in 2 files, I suggest to print them. Thank you.

Case study reference

Gibson, C. H. (2011). Financial Reporting & Analysis: Using Financial Accounting Information (13th Ed.). Mason, OH: South Western/Cengage. ISBN-13: 9781133188797

Reference no: EM131041362

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