Different Sources of Regulation for Financial Statements in Ireland

9830 Words Nov 12th, 2011 40 Pages
By Sean Burke ( please note my referancing is quiet bad) but hopefully my work is of use to somebody for general information.

Outline the different sources of regulation of financial statements in Ireland.
When accountants are preparing a set of financial statements accountants must comply with the relevant accounting rules.
The regulatory framework provides a set of rules and regulations to ensure fair play.’ The principal aim of the regulatory frame work is to ensure that the financial statements present a true and fair view of the financial performance and position of the organization’.
The three sources of rules which accountants must be familiar with (aka the regulatory framework which applies to financial reporting by
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GAR92 which implements the EC Seventh Directive on group accounts in Ireland. '
‘The companies acts required companies to keep proper books of account. In particular the books must :
* Record a companies transactions in a timely and consistent…