1. What are the main aspects of the communication process by which accounting information reaches the potential users of this information? 2. Why is there a need for regulation of disclosure in...

1. What are the main aspects of the communication process by which accounting information reaches the potential users of this information?

2. Why is there a need for regulation of disclosure in capital markets? What types of disclosures should be regulated and which should not?

3. Explain the role of the independent audit function in the communication of corporate accounting information.

4. Discuss the importance of the notions of ‘expectation gap’ and ‘credibility gap’ in the corporate financial reporting process.

5. Discuss the factors influencing the mandatory and voluntary disclosures of financial information.