Identify and list the responsibilities of company directors in relation to the company‘s accounting system

Directors have the following responsibilities in relation to the company‟s accounting system

Responsibility to put in place a system that will ensure proper accounting records are maintained. The Companies Act requires management to keep proper books of accounts, this is only possible with a proper accounting systems;
They are responsible for ensuring that appropriate controls are put in place within the operation of the accounting system;
Responsibility to continuously review the operation of the controls to ensure that they are adequate for the operations of the company;
To ensure that the accounting system and the internal control system safeguards the company‘s assets.

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Identify and list the responsibilities of company directors in relation to the company‘s accounting system

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