Mandatory reporting in the form of the annual report with audited financial statements has been used by
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Question:
Mandatory reporting in the form of the annual report with audited financial statements has been used by incorporated entities since the mid 19th century. Discuss if this mode of reporting is still relevant in modern times and can this be substituted by quarterly or semi-annual reports (on an audited basis). Discuss why these alternatives may be possible today and why they have not been incorporated as requirements by the standard-setters.
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