Taxation and Business Decisions Unit 2 DB.docx

Taxation and Business Decisions Unit 2 DB.docx - Chief...

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Chief Financial Officer, JIM, 12/7/2019 REF: FINANCIAL AND TAX REPORTING Professionals in money matters are required to be honest and straightforward in all business and professional relationships or to the tax reporting. Professionals work and advice must be free of self-interest and not influenced by the needs of other parties. My findings are that accountants should not be associated with tax or financial reports, information and returns that they believe to contain materially misleading or false statements. A professional should also stay away from tax information that contains statements furnished in a reckless manner. Financial report that obscures or omits certain information that should be instead included is deemed misleading and should be discarded at all cost. If a professional comes across some omitted information on financial matters he or she should take the legal steps to disassociate from the documentation. In terms of objectivity, finance experts should not compromise their professions because of conflict of interest, undue influence of others and bias (Sutton 1997). Objectivity is
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  • Fall '19
  • International Financial Reporting Standards, IFRS- international Financial Reporting

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