CIMA BA3 Syllabus A. ACCOUNTING PRINCIPLES, CONCEPTS AND REGULATIONS - The Stewardship Function - Notes ^{2 / 2}

The Responsibilities of Management

The term given to the responsibilities of management is the stewardship function because management acts as stewards on behalf of shareholders, members and other beneficiaries.

The are 3 main duties:

1. Safeguarding assets

2. Ensuring adequate control exists to prevent or detect fraud

3. Producing the financial accounts