It gives an unwavering assurance that through progress or crisis, the public would remain committed to pull the strings for development. Challenges The adoption of the standards only provides the gateway to achieving good governance. Several other hurdles will bask along the way as we strive to reach this goal.
Each discipline in the accounting profession would have its share of issues to resolve and responsibilities to carry out that would be vital for corporate oversight. Auditors would play a more expansive role in this undertaking. They would give us an independent view on how the risk exposures and other activities of the business ultimately affect the financial statements.