Accounting, Auditing Crucial in Development, Experts Say
Proper accounting and auditing help promote business opportunity and development, finance experts say. Socheat Chum, a senior associate auditor for KPMG, a professional accounting service, told “New Voices” on Monday that companies with “solid” financial statements will “attract more business partners and be able to borrow money from the bank.” That can lead to further social and economic development, he said. … In general, Cambodians practice family-style business, he said. That means they don’t have proper financial statements or systems that could help local businesses grow. But the ability to grow, borrow money and bring in new partners will be important as Cambodia joins with its Asean neighbors in economic integration, he said. …
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http://www.voacambodia.com/content/accounting-auditing-crucial-in-development-experts-say/1793321.html
