Australia

Details

  • Service: Audit, Financial Statement Audit, Financial Reporting & Accounting Standards, Accounting Advisory Services, International Financial Reporting Standards (IFRS)
  • Type: Regulatory update
  • Date: 9/05/2013

Reporting Updates

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

13RU-007 ASX updates continuous disclosure guidance 

This Reporting Update summarises ASX revised Guidance Note 8: Continuous Disclosure: Listing Rules 3.1 – 3.1B.
Key points
  • ASX has updated continuous disclosure guidance, relevant for listed and other disclosing entities under the Corporations Act.
  • Key changes include:
    • meaning of 'immediate' disclosure
    • 'awareness test' applied to what an entity's officers know
    • materiality applied to earnings surprises.
  • Effective from 1 May 2013.