The Australian and New Zealand Chartered Accountants Professional Association together with the Association of Chartered Certified Accountants (ACCA) made and published special guidelines for company executives “Responsibility of Managing Personnel in Preparing Financial Reports”.

The document is intended to help corporate executives understand the essence of financial reporting, avoid mistakes during its preparing, and understand the level of their responsibility in the reporting process.

The guidelines contain answers to the most common questions of the management staff regarding the preparation of financial reporting, reveal the practical aspects of its preparing, and explain the role of the external auditor to confirm the reporting.

According to the authors, the document will primarily be useful to CEOs in the Asia-Pacific region and Europe as well as anyone who wants to learn more about the financial reporting process.