- Ensuring that proper books of accounts are maintained by company
- Ensuring that the financial statements as income statement, Balance sheet and cash flow statements have been prepared in accordance with identified relevant reporting framework e.g. international Accounting Statements.
- Timely preparation of financial statements
- Designing an internal control system
- Implementing internal control system
- Ensuring accuracy, completeness of financial statements
- Designing appropriate accounting policies and procedures e.g. for depreciation
- Ensure that accounting policies adopted are consistently applied from period to period
- Ensure that any departure from reporting framework is properly reflected, disclosed in financial statements
- Ensure uniformity in application of International Accounting Standards and accounting policies
- Ensure that they inform the shareholders of the contents in financial statements. They should interpret the policies adopted and other technical financial matters.
- Implementing an internal control system that ensures errors and frauds are detected.
- Ensuring preventive measures are instituted to ensure errors and frauds do not occur
- Where errors and frauds have occurred, ensure that controls are in place to correct such
- Ensure controls are in place to detect errors and frauds in financial statements
Wilfykil answered the question on February 23, 2019 at 07:27
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