Communication remains a very vital role in any organization; this is because it holds the key towards efficient management. Stakeholders’ communications helps them understand and relate what is happening in the organization and help them contribute towards growth and development. The role of reporting in accounting holds another key role in the company as it deals with the finances of the firm (Jorion, & Global Association of Risk Professionals, 2007, p.56). For this reason there is need to be cautious on the method of reporting used to ensure the correct information is given and hence avoid scandals. This paper critically reflects on the regulation of external reporting and whether it can be considered as a neutral, objective and emblematically faithful as suggested by the Conceptual Framework.
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