A village was destroyed by storms. The state government appointed a team to help rebuilding the village. The team provides information in four different reporting forms.

Casual chats with some villagers to help improve their confidence for the future.

A blueprint publicly released to the general public. This blueprint details how to rebuild the village. It is regarded as the ultimate outcome of the work done by the team.

Regular work reports to the state government, stating what had been done in this stage and the plan for the next stage.

Weekly newsletters to the local villagers, village council, and charitable groups working in this village. The newsletters contain the news of the team and a brief introduction of rebuilding progress.

Required:

(1) Define the concept of stakeholder. What are stakeholders in this case?

(2) Identify reporting priority of the four forms of reports (you can use 'more formal', 'formal', 'less formal', 'informal' to categorize these reporting forms).

(3) Based on (2), compare between materiality applications in financial context and the sustainability management context.

(4) Use this case to make a comparison between management accounts and financial accounts in the context of sustainability.