One Financial reporting is a vital part of corporate governance because it involves information disclosure in firms for decision making by stakeholders.
accounting
Description
Question
One Financial reporting is a vital part of corporate governance because it involves information disclosure in firms for decision making by stakeholders. Required: 1 Discuss the role of disclosure in the income statement and = 10 Marks 2 The balance sheet as vital components of the annual report as vital ingredients for good corporate governance.
3 Highlight the role of IFRS and
4 IPSAS in the preparation of company’s and public enterprises
Question Two A strong audit committee as a sub-committee of the Board of Directors supported by strong and effective Internal Control Unit in corporate firm said to facilitate the task of external auditors during their audit engagement. Why is this so? = 30 Marks B Can external auditors renege in this important statutory function by relying upon the strength of Internal Control Unit?
