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involve only relevance but also faithful representation. Information is material if it could persuade users' decisions taken on the basis of the annual reports. Materiality depends on the nature and amount of the item in case of omission or misstatement. It forms the threshold for recognition of information and only material information is contained in the annual reports.

In order to be useful, accounting information should possess these qualities mentioned above. The four main components are reliable, relevance, understandable and comparable.

2.5 年度报告的组成部分——2.5 COMPONENTS OF ANNUAL REPORTS

The annual report encloses a huge amount of information about a company. As formal communication documents the annual reports also contains quantitative information, narratives, photographs and graphs. There have been several survey-based studies in accounting conducted that the annual reports is useful source of information (e.g., Briggs, 1975; Lee and Tweedie, 1975, 1976,1981; Anderson and Epstein (1995); Abu Baker and Naser (2000).Ho and Wong (2004) conducted a research in Hong Kong and concluded that annual reports are consisted of high value of information in comparison to other sources, even though the respondents are not fully satisfied with the amount of information disclosed.

Thus in Mauritius, the section 221 of the CA 01 specifies the contents of an annual report. Hence it includes the following:

2.5.1 主席报告——2.5.1 Chairman's Report

Lee and Tweedie (1975), Barlett and Chander, 1997, p.246 found that the most common read sections of the annual reports is the chairman's statement .This was attributed to the simplicity of the chairman's report, which clarifies the more technical information, contained in other parts of the report. On the other hand, Wilton and Tabb (1978) surveyed about 300 shareholders and concluded that the chairman's report was the most widely read followed by the income statement. However, Barlett and Chander have also disclosed that the majority of respondents in their sample desired less information in the form of a summary report rather than the annual report itself.

2.5.2董事报告——2.5.2 Directors Report

The Directors' report supply useful information to investors about the activities of the company, the dividend policy and information about the decision makers of the company.

Anderson (1998) spot out that despite majority of investors found the basic financial statements to be most valuable, the most thoroughly items read in the annual report are the directors' report. Lee and Tweedie (1975) found that the executive's report was of great to less importance, over one-third of the respondents believed the directors' report to be of no value.

2.5.3企业管制报告——2.5.3 Corporate Governance Report

Corporate governance (CG) has been a foremost policy issue in developed market economies for more than a decade. Hashim (2009) defines CG as 'a combination of processes and structures conducted by the board of directors to authorize, direct and oversee management towards the achievement of the organization's objectives'.

The Report on Corporate Governance for Mauritius, states that companies that are listed on the Stock Exchange of Mauritius shall abide to all provision of the code and there should be a separate corporate governan本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。