Page 33 - F3 -FA Integrated Workbook STUDENT 2018-19
P. 33
The regulatory framework
Example 1
Preparation of limited company financial statatements
Who is responsible for the preparation of the annual financial statements
of a limited liability company?
A Management
B The finance director
C The board of directors
D The chairman of the board of directors
Solution
C.
The board of directors have a collective responsibility to prepare the annual
financial statements. It is not the sole responsibility of either the finance director
or of the chairman of the board of directors.
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