Chapter 1 – Role and responsibilities of the stakeholders

• The accounting arena: A variety of stakeholders with unequal knowledge & power

• Who's responsible for the fair presentation of financial statements?

• Basis of preparation of the financial statements

• Components and subsets of an annual report

• Considerations when reading financial statements

• Communication by the Independent auditor to the Board of Director

• What questions should you / directors ask when considering the financial statements?