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Who is responsible for the accuracy of financial statements

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Reference no: EM132934419

Led Zep accounting firm has two offices, one of them is located in New York City and the other in Los Angeles. The two provide services to each other to each other's clients and to their clients' clients.

Problem 1: A junior executive from the Los Angeles office learned confidentially through communication from ZZ-Todd, who is a client of the New York office, Eddie Mercury Inc., is not recording all relevant information in its financial statements. Who is responsible for the accuracy of these financial statements?

1- The administrators of the company Eddie Mercury

2- The partner of the accounting firm Led Zep in New York since Eddie Mercury Inc. is one of its clients

3- The partner of the accounting firm Led Zep in Los Angeles since he found out about the matter from one of his clients

4- The client ZZ-Todd since he found out about the subject before the others

Reference no: EM132934419

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