Accounting is the collection, summarization and communication of a firm’s financial information for the management, stakeholders, individuals and others to help them make sound financial decisions. However, following a series of recent financial scandals , the true and fair view of financial information disclosed to the public has been 1 questioned. Regulators and governments have responded by issuing new regulations and legislation.
Critically analyze the role of the auditor and the role of the board of directors in the preparation of financial statements and the prevention of fraud.Examine the actions taken by the regulatory authorities and the government in the UK in response to these scandals.
The word count for these assessment is 2,000 (this is the maximum limit). This does not include reference lists, bibliographies, tables, figures and captions.