Consequently, 72 percent of participants named tax reporting as the primary
purpose of preparing financial statements in accordance with RAS.The most common
response to that question was“Because it(reporting)has to be done!”When the author
probed the topic further and asked if the interviewee thought that financial reporting
could increase attractiveness of their organisation to potential investors,only 23 percent
replied that they believrd.The rest of the responses indicated that financial
reporting under RAS was not there to attract investors, but to keep tax authorities
happy and ensure continuity of business operations.