Question

A third party independent auditor, as opposed to company management, prepares, creates, and is solely accountable for the official Financial Statements of a publicly traded company?

Answer 1

Auditor is not responsible for preparation of financial statements

According to standards of auditing

Preparation of financial statements is sole responsibility of the management

For this purpose they have to identify applicable financial reporting framework which is acceptable for the entity

And maintenance of internal controls for the purpose of financial statements

The job of the auditor is to expression of opinion on the financial statements wheather they potray true and fair view

so preparation of financial statements is responsibility of the management not the auditor