Answer to Question #79885 in Finance for Like Heron

Question #79885
Why must directors provide adequate disclosure in financial reporting? (Answer needs to be specific with question asked)
1
Expert's answer
2018-08-20T10:01:08-0400
Directors must ensure that the Company they govern keep adequate financial records to correctly disclose and explain transactions and the company’s financial position and performance. A failure of a director to take all reasonable steps to ensure a company fulfils this requirement contravenes the Corporations Act.
Source:
https://www.crowehorwath.com.au/insights/directors-what-are-my-financial-reporting-obligations/

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