Australia

Details

  • Service: Audit, Financial Statement Audit, Financial Reporting & Accounting Standards, Accounting Advisory Services
  • Type: Regulatory update
  • Date: 21/09/2012

Reporting Updates

Reporting Updates
Reporting Updates (formerly known as Flash Reports) outline changes occurring within the Australian financial reporting environment.

12RU-007 ASIC draft guidance on operating and financial review disclosures 

This Reporting Update provides an overview of ASIC’s draft regulatory guide on the preparation of an Operating and financial review by listed entities under S299A of the Corporations Act.

Key points

  • ASIC propose guidance for preparing Operating and financial reviews (OFR) by listed entities.
  • Principles based guidance to improve effectiveness of OFR.
  • Guidance limiting the application of the exemption from disclosing strategies and prospects.
  • Entities do not have to apply the draft regulatory guide. However, final guidance is expected to be effective for 30 June 2013.
Flash Reports - Australian financial reporting updates