The Responsibility for Producing and Validating Financial-Accounting Information

Istrate Alina-Mariana ()
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Istrate Alina-Mariana: “Alexandru Ioan Cuza” University, Faculty of Economics and Business Administration, Iasi

Ovidius University Annals, Economic Sciences Series, 2012, vol. XII, issue 2, 1170-1174

Abstract: The process of decision-making and carrying out of economic transactions is not possible in the lack of accounting information. In order to be useful, it has to be drafted according to the requirements of legal and ethical provisions. In this context, the role of accounting professionals is brought into play as far as the drafting, publication and validation of financial-accounting information are concerned. This approach aims at a thorough study of the problematic of accounting truth and the true and fair view, following the approach of aspects related to the responsibility of accounting professionals with respect to the assurance of information quality. We will have in view the production and communication of information, as well as its validation by means of auditing. The results of research highlight the fact that the responsibility for producing faithful (real) financial-accounting information which is useful to the decision-making process pertains to the taking on of professional responsibility, the observance of legal framework and professional deontology norms, not to mention the disinterested application of professional experience and refinement.

Keywords: accounting truth; true and fair view; audit; professional responsibility. (search for similar items in EconPapers)
JEL-codes: M41 M42 (search for similar items in EconPapers)
Date: 2012
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