Serving Client and Public Interests Roles of Interested Parties - management prepares and is responsible for the accuracy of financial statements.
External auditors provide assurance that the financial statements are presented fairly.
Corporate governance enables owners and creditors of an organization to exert control and require accountability. External directors, over the past decade, have become more active in pushing the organization to act in stockholders' interests. This includes gaining assurance that management is assessing risk and controlling operations. The Audit Client - the audit client should be viewed as the board of directors and its audit committee. Audit Committees - an audit committee is a subcommittee of the board of directors that is composed of independent, outside directors.