| Autor: Kazimierz Sawicki | 167 |
Strony: 167-184
pełen tekst
TASKS OF FINANCIAL AUDIT IN COMMUNICATING RELIABLE FINANCIAL STATEMENTS
Summary
The paper presents issues related to preparing and presenting reliable financial statements to stakeholders. It describes characteristic of useful financial reporting, with pointing at complexity and difficulties with acquiring these characteristics in practice. They refer to conflict between relevance and reliability of information, as well as the date on which financial statements are prepared, using estimates, achieving surplus of benefits over costs of communicating of financial statements. The paper also takes a position on the issues of financial audit mentioned by the European Commission in the Green Book in 2010 and formulates proposals of introducing changes to standards and acts in order to ensure the credibility of financial statements examined by external auditors.
pełen tekstTASKS OF FINANCIAL AUDIT IN COMMUNICATING RELIABLE FINANCIAL STATEMENTS
Summary
The paper presents issues related to preparing and presenting reliable financial statements to stakeholders. It describes characteristic of useful financial reporting, with pointing at complexity and difficulties with acquiring these characteristics in practice. They refer to conflict between relevance and reliability of information, as well as the date on which financial statements are prepared, using estimates, achieving surplus of benefits over costs of communicating of financial statements. The paper also takes a position on the issues of financial audit mentioned by the European Commission in the Green Book in 2010 and formulates proposals of introducing changes to standards and acts in order to ensure the credibility of financial statements examined by external auditors.