For preparers of financial reports

Financial reporting for companies, registered schemes and disclosing entities in Australia is governed by the Corporations Act 2001 (Corporations Act).

Financial reports which have been prepared in accordance with the law help maintain and promote confidence and integrity in Australia’s capital markets.

ASIC runs a financial reporting surveillance program with the aim of improving the quality of financial reporting. We regularly review the annual and interim financial reports of selected listed companies and other significant public interest entities to monitor compliance with the Corporations Act and Australian Accounting Standards. We also review financial reports based on complaints, other intelligence and through our audit inspection program.

Improved financial information for investors and others

We have released the results of our reviews of financial reports for the year ended 30 June 2011 and have announced our areas of focus for 31 December 2011 financial reports.

ASIC releases guide on using non-IFRS financial information, 11-287MR, 9 December 2011
ASIC focuses attention on 30 June 2011 financial reports, 11-139MR, 7 July 2011
We have highlighted a number of focus areas for directors in 30 June 2011 financial reports after today releasing the results of our reviews of financial reports for the year ended 31 December 2010.
ASIC releases draft guide on use of non-conforming financial information, 11-57AD, 24 March 2011

More What's new

Financial reporting requirements	Applicable legislation, professional standards and regulatory guides
Frequently asked questions about financial reporting	Common questions asked by preparers of financial reports
Relief from financial reporting requirements	Overview of relief and conditions for relief to be granted
ASIC's financial reporting surveillance program	Overview of the Surveillance program and recent results
Standard Business Reporting	Overview of Standard Business Reporting - simplifying business-to-government reporting

Financial reporting and audit overview

ASIC Website: Printed 05/17/2012

Within:
For: