ethical issues related to financial reports

Question 1

what are the ethical issues relating to financial reporting

Answer 1

• audited accounts
• record keeping
• reporting practices

Question 2

define audit accounts

Answer 2

refers to an independent check of the accuracy of financial records and accounting procedures of a business

Question 3

define record keeping

Answer 3

the process where the Australian govt requires source documents to be created for every transaction.

Question 4

define reporting practices

Answer 4

refers to where businesses are legally obligated to produce accurate financial reports