There are typically three parties involved 1. Business entity: The one who makes the provision. It recognizes that there may be an upcoming liability or expense, which should be acknowledged in its financial records to follow the principle of prudence. 2. Accountants or financial advisors: These professionals guide the organization in identifying potential liabilities, evaluating their likely costs, and advising on the appropriate amount of provision to make. 3. Auditors: These are third-party entities that verify the correctness and appropriacy of provisions made. They ensure an organization's financial statements are accurate and fair, per the accounting and auditing standards.