Auditing accounting - Management report of internal control over financial reporting
The company's management is responsible for establishing and maintaining adequate internal control over financial reporting. The company internal control over financial reporting is a process designed under the supervision of its president and chief executive officer to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the company financial statements for external reporting in accordance with accounting principles generally accepted in the United States of America Management evaluates the effectiveness of the company internal control over financial reporting using the criteria set forth by the committee of sponsoring organization of the tread way commission (COSO) in internal control-integrated framework management under the supervision and with the participation of the company's president and chief executive officer and chief financial officer assessed the effectiveness of the company internal control over financial reporting as of December 31, 2013, and concluded it is effective
Management responsibility consolidated financial statements
Management is is also responsible for the preparation and content of the accompanying consolidated financial statements as well as all other related information contained is this annual report. These financial statements have been prepared in conformity with accounting principles generally accepted in the United States, and necessarily include amounts which/ are based on management best estimates and judgement?
a. What are the purpose of the two parts of the report of management?
b. What is the auditor's responsibility related to the report of management?