Explain the ISO/TS 16949 Standard

question 42

Essay

Explain the ISO/TS 16949 standard.

---

Definitions:

Internal User

Refers to individuals within an organization who use financial information to make decisions, including managers and employees.

Accounting Information

Financial data and reports derived from accounting practices, used by stakeholders to make informed decisions regarding a company or entity.

Financial Reporting

The method of generating reports that reveal a company's financial condition to its management, investors, and governmental bodies.

Highly Transparent

Refers to an environment, system, or organization where there is easy access to complete information, thereby facilitating openness and communication.