Qualitative characteristics
Relevance
Understandability
Timliness
Verifiability
Accurate
Up to date
Decision making
Understandable
Present
Future
No boundaries of knowledge
No information left out
Able to review and analyse information
reasonable knowledge of business and economic activities
Information changes quickly
Must be readily available
Decision making requires dependant
Must be a true reflection
Directly verified
Indirectly verified
Checking Data
Checking techniques used
observation
Checking inventory