Please review this information. In particular, this discussion revolves on Secti

Question

Please review this information. In particular, this discussion revolves on Section 302 of the Act:

The CEO and CFO of each issuer shall prepare a statement to accompany the audit report to certify the "appropriateness of the financial statements and disclosures contained in the periodic report, and that those financial statements and disclosures fairly present, in all material respects, the operations and financial condition of the issuer." A violation of this section must be knowing and intentional to give rise to liability.

Please post a response as to your understanding of the significance of this segment and to the Act in general. How do you see this relating to your role as a manager?

Explanation / Answer

Creation of a report for financial statement is very essential for certification purposes. Is report helps the auditor to successfully assess and to provide information to the auditor regarding all financial information of the organisation which benefits the organisation in a positive way during an audit process.

The psycho she got reduces overall possibilities of errors in auditing process which is very essential for any organisation to obtain limited amount of liability options for an auditor. The financial statements should be mended and always available for the organisation to reduce the risk of false liabilities. Maintenance of these records and statement should be done on the regular basis for complying in the standard and to maximize efficiency as well as productivity of the organisation regarding the same maintenance of the records.

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