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IIA Exam IIA-CFSA Topic 5 Question 74 Discussion

Actual exam question for IIA's IIA-CFSA exam
Question #: 74
Topic #: 5
[All IIA-CFSA Questions]

The responsibility for preparing and presenting the audited financial statements is that of:

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Suggested Answer: B

by Arletta at Apr 04, 2025, 11:47 PM

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Ammie
15 days ago
Wait, so the process owner is responsible for the audited financial statements? That's like asking the janitor to do the CEO's job!
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Eun
24 hours ago
B) Engagement client/ Management of the entity
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Alonso
1 months ago
I think it's important for the management to be accountable for the financial statements to ensure transparency and trust in the company.
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Precious
1 months ago
Hmm, this is a tricky one. I'm going to go with B, the engagement client/management of the entity. They're the ones who have the most to gain or lose from the financial statements.
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Lamonica
20 days ago
It makes sense that they would be the ones in charge of preparing and presenting the audited financial statements.
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Val
22 days ago
Yes, they are the ones who have the most knowledge about the company's financial position.
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Leonie
23 days ago
I agree, the management of the entity is ultimately responsible for the financial statements.
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Jame
1 months ago
I agree with Maryln, because the management of the entity is ultimately responsible for the accuracy of the financial statements.
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Arlyne
1 months ago
I think the auditing agency should be responsible for this. After all, they're the ones doing the auditing, right?
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Desmond
8 days ago
That's correct, the responsibility lies with the management of the entity.
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Leonora
1 months ago
B) Engagement client/ Management of the entity
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Maryln
2 months ago
B) Engagement client/ Management of the entity
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Audra
2 months ago
Obviously, it's the management's responsibility to prepare and present the audited financial statements. Duh!
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Zita
21 days ago
Exactly, the management of the entity is responsible for preparing and presenting the audited financial statements.
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Ashleigh
23 days ago
B) Engagement client/ Management of the entity
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