THE NEED FOR FINANCIAL STATEMENTS TO DISCLOSE TRUE BUSINESS PERFORMANCE TO STAKEHOLDERS

Corporate Board: Role, Duties & Composition

关键词: Financial Statements;    Reliability;    Reports;    Stakeholders;    Source of Information;   

DOI  :  10.22495/cbv12i2c1art2

学科分类：社会科学、人文和艺术（综合）

来源: Virtus Interpress

【 摘 要 】

This desk top study reviewed relevant literature in order to determine the extent to which Financial Statements disclose true business performance to stakeholders. Literature reviewed established that management fraudulent reporting, relevance of reports and reliability of information are to be taken into account when assessing level of reliance that can be placed on financial statements on disclosing business performance. It also emerged that cost and benefits of disclosing financial information, relevance of financial statements and significance of stakeholder groups are some of the factors to be considered when carrying out a cost benefit analysis on the importance of financial statements. The study concludes that management fraudulent reporting, relevance of reports,reliability of information and source of information are to be taken into account when assessing level of reliance that can be placed on financial statements to determine their ability to disclose business performance.

【 授权许可】

CC BY-NC