Australia

Details

  • Service: Audit, Financial Statement Audit, Financial Reporting & Accounting Standards
  • Type: Regulatory update
  • Date: 8/07/2013

Reporting Updates

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

13RU-009 Corporations Regulations amended for remuneration reports 

Corporations regulations have been amended to transfer disclosures from the notes to the financial statements to the Remuneration Report for disclosures between an entity and its KMP.

Key points

  • Corporations regulations amended to transfer  disclosures from notes to the financial statements to the remuneration report (from 30 June 2014).
  • No new disclosures. 
  • Potential duplication of disclosure at 30 June 2013.  Treasury working to rectify with expectation of resolution prior to finalisation of 30 June 2013 financial reports.

 

 

Financial Reporting & Accounting Standards

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