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I dont understand this statement from bbp text book. subtitle; responsibility for the financial statements. Directors are responsible for the preparation of the financial statements of the company. Am thinking that its responsibility of accountant. please clarify to me sir.
Although the directors will usually employ an accountant to do the work, it is the responsibility of the directors to make sure that the financial statements are prepared.
If financial statements are not prepared then it is the directors who are in trouble – they should have made sure that they were prepared 🙂
(Incidentally, although obviously the more reading you do the better, do appreciate that your free lectures are a complete course for Paper F3 and cover everything needed to be able to pass the exam well. The book that is essential that you buy is a Revision Kit. This contains lots of exam standard questions to practice, and practice at questions is essential to passing the exam.)
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