In Australia the overriding responsibility for the preparation and presentation of general-purpose reports resides with the directors of a company.

Question

Quizplus · Accepted Answer

According to the Australian Securities and Investments Commission (ASIC), the directors of a company have a legal responsibility for the preparation and presentation of general-purpose reports in accordance with accounting standards and the Corporations Act 2001.

In Australia the Overriding Responsibility for the Preparation and Presentation