Ten hard questions to ask or be asked

1Why are we interested in managing these numbers? What is it that we want to do with them or find out from them?
2By what duties, ethics and laws am I personally bound when managing and reporting the numbers?
3Do our internal and published financial reports give a true and fair view of the business?
4Under which country’s set of generally accepted accounting principles (GAAP) do we operate? Do we report under more than one GAAP? Why? What is the cost?
5How do international accounting standards (IAS) affect the operations of our company?
6What do our national accounting and regulatory bodies have to say about IAS? Is there any clash between our national and the international accounting standards?
7Are our implementation ...

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