• Service: Audit, Financial Statement Audit, Financial Reporting & Accounting Standards
  • Type: Survey report
  • Date: 20/12/2011

Underlying Profits Report

The Underlying Profits Report examines the non-statutory reporting practices of ASX top 100 companies.

Underlying profits report 2011 

The results show that the use of underlying profit measures, in addition to statutory profit, continues to be the market norm, with 82 percent of companies presenting some form of non-statutory profit when reporting their 2011 results. Companies believe that by providing more information on the composition of their results they are assisting shareholders in understanding the results.
Underlying profits report 2011 cover
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Key insights


  • The majority of companies in the ASX100 continue to present underlying profit information.
  • The gap between statutory and underlying profits has been decreasing since 2009.
  • There have been improvements in the quality and consistency of underlying profit presentation since 2009.
  • The pace of improvement appears not to have been fast enough for the regulator, resulting in regulatory guidance that is effective for the 31 December 2011 reporting season.
  • Many companies in the ASX100 will need to change their practices to comply with ASIC’s requirements.

Financial Statement Audit

KPMG provides independent audit services that help to enhance the reliability and credibility of the financial reporting undertaken by clients.