Australia

Details

  • Service: Audit, Financial Statement Audit, Financial Reporting & Accounting Standards
  • Type: Regulatory update
  • Date: 28/10/2013

Reporting Updates

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

13RU-013 Financial reports of stapled entities 

This Reporting Update discusses the release by ASIC of Consultation Paper 217 Presentation of financial statements by stapled entities. This paper proposes to issue a class requiring stapled entities to present combined financial statements covering all of the entities whose securities are stapled.
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Key insights

  • Class order will allow stapled entities to present combined financial statements.
  • Audit or review required.
  • Not IFRS compliant.
  • Still required to prepare financial statements as required by Accounting Standards.