1. The Importance of Financial Information
Georges Barthes de Ruyter
Former Chairman of the International Accounting Standards Committee

2. Accounting
The Financial Information of an Enterprise is a by-product of its accounting systems.
International Financial Reporting Standards.

3. Financial Statements
The basis of the financial information of any enterprise.
Enterprise delivers messages to the public through its financial information.
Important that messages are in a language that is precisely understood.

4. Why reliable information?
Two arguments for reliable financial information.
International
National

5. Reliable Financial Information: International Context
Allows for free and efficient flow of capital.
Ensures best allocation of resources and lowest cost of capital.
Correlation between progress of financial information and growth of economy.

6. Reliable Financial Information: National Context
Confidence in financial information attracts foreign and portfolio investment.
Better allocation of capital.
Importance of relevant standards and reliable information.

7. Conclusion
Importance of efficiency, independence and reliability of the audit profession.