True or False: The company's auditors assume responsibility for the financial statements.

The statement is false because the responsibility for the financial statements lies with the company's management, not the auditors. Auditors are responsible for expressing an opinion on the fairness and accuracy of the financial statements based on their examination. They assess whether the financial statements are free from material misstatement and provide reasonable assurance as to their reliability. However, the underlying creation, preparation, and integrity of the financial statements themselves remain the responsibility of the company's management. Therefore, it is important to understand that while auditors have a significant role in reviewing these statements, they do not take on the responsibility for their accuracy or completeness.