• Service: Audit, Financial Statement Audit, Financial Reporting & Accounting Standards
  • Type: Regulatory update
  • Date: 30/07/2013

Reporting Updates

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

13RU-010 Corporations Regulations amended – duplication averted 

This Reporting Update supplements 13RU-009 for the revised commencement date of the amended Corporations Regulations.

Key points

  • Corporations Regulations amended to avert duplication of remuneration disclosures in the remuneration report and the notes to the financial statements
  • For financial years ending before 30 June 2014 (e.g. ended 30 June 2013) some individual KMP disclosures remain located in notes to the financial statements
  • For financial years ending on or after 30 June 2014 individual KMP non-remuneration disclosures transferred to the remuneration report.

Financial Reporting & Accounting Standards

KPMG has extensive experience in applying accounting standards, both Australian accounting standards and IFRS, to a range of transactions.