Business Leaders must be aware of several key areas, including: - Accounting Standards: Adherence to Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). - Tax Compliance: Ensuring all tax obligations are met accurately and on time. - Internal Controls: Implementing robust internal controls to prevent fraud and ensure accuracy in financial reporting. - Regulatory Reporting: Meeting the requirements of regulatory bodies like the SEC, FCA, or other local authorities.