The Third Party Who Checks Annual Financial Statements to Ensure

question 79

Multiple Choice

The third party who checks annual financial statements to ensure that they are prepared according to Generally Accepted Accounting Principles (GAAP) and verifies that the information reported is reliable is the

• A)Australian Securities and Investments Commission (ASIC).
• B)auditor.
• C)Australian Securities Exchange.
• D)Australian Accounting Standards Board.

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Definitions:

Genital Stage

A phase in Freudian psychosexual development occurring from puberty onwards, where sexual maturation is complete and sexual intercourse becomes a major goal.

Piaget's Theory

A theory of cognitive development that explains how children construct a mental model of the world through experiences and stages of development.

Developmental Norms

Benchmarks or standards of development that describe typical progress and milestones for children at certain ages.

Psychological Counselling

A type of therapy aimed at addressing mental health issues by talking through problems with a trained therapist.