Note on the Corporate Financial Reporting Environment: A User Perspective

Potential users of financial statements are provided with the necessary background to intelligently use these comprehensive and regular corporate disclosure vehicles. Background information about the content and process of corporate financial reporting, in particular the annual report, is included. The fact that these documents are prepared by individuals who have a vested interest in their content and the means to impact the content is discussed, in addition to a description of the institutional framework which attempts to increase the integrity and usability of these documents.