Directors' responsibilities statement: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Correct typo Responsibilities.) |
imported>Doug Williamson (Add link.) |
||
| Line 16: | Line 16: | ||
== See also == | == See also == | ||
* [[Accounting records]] | |||
* [[Annual report]] | * [[Annual report]] | ||
* [[Auditors’ report]] | * [[Auditors’ report]] | ||
Revision as of 15:49, 31 December 2020
Financial reporting.
A directors' responsibilities statement is part of an Annual Report that sets out the directors' responsibilities in relation to:
- Preparing financial statements in accordance with relevant laws and regulation;
- Safeguarding the assets of the company, including preventing and detecting fraud; and
- Keeping adequate accounting records.
The purposes of the statement include clarifying the boundary between, and respective responsbilities of, the auditors and the directors.
It is normally included in the Directors' report.
It is known more formally as the 'Statement of directors' responsibilities in respect of the financial statements'.
