Question

A written representation from a client's management that, among other matters, acknowledges responsibility for the fair presentation of financial statements should normally be signed by the

a. Chief executive officer and the chief financial officer.
b Chief financial officer and the chairman of the board of directors.
c. Chairman of the audit committee of the board of directors.
d. Chief executive officer, the chairman of the board of directors and the client's lawyer.

Answer 1

The written representation for the fair presentation of financial statements is typically signed by the company's Chief Executive Officer and Chief Financial Officer, as they are accountable for the accuracy of financial records.

Step-by-step explanation:

The question discusses who should normally sign a written representation from a client's management that acknowledges responsibility for the fair presentation of financial statements. Normally, this responsibility falls on the company's top management, which includes the Chief Executive Officer (CEO) and the Chief Financial Officer (CFO). The correct answer to the question is (a) the CEO and the CFO. These executives play a vital role in the company's corporate governance, overseeing financial disclosures and ensuring that the financial statements presented to investors and the public accurately reflect the company's financial position and performance. The answer reflects the understanding that the board of directors, auditing firms, and large shareholders constitute key elements of a company's corporate governance structure.