General Studies · Auditing and Accountability
Which of the following statements is NOT true regarding the standard relationships between directors, shareholders, and auditors?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Directors are accountable to the shareholders
- 2Auditors report to the shareholders on the financial statements prepared by the directors
- 3Shareholders are accountable to the auditors✓
- 4Auditors act as agents of the shareholders
Correct answer
Shareholders are accountable to the auditors
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