The content of the G4 Guidelines may, at first glance, not appear to be a radical departure from G3, but will in fact have a significant impact on the corporate reporting process.
KPMG International’s briefing outlines the key changes and aims to help you understand what G4 means for your organisation.
- Materiality takes centre stage.
- Reporting boundaries redefined.
- ‘In Accordance’ levels replace A, B, C.
- New governance disclosure requirements.
- New supply chain requirements.
Companies can begin to transition from the G3 to G4 over a 2-year period. Reports produced after 31 December 2015 will need to follow G4.