CPA AUSTRALIA
PODCAST

A discussion with Douglas Niven, Senior Executive Leader at ASIC about the recently released financial reporting focus areas.  The discussion will also cover ASIC’s findings from its financial report surveillance program  

Highlights:

• Financial reporting quality improvement requirements identified through ASIC’s surveillance programme – 01:21
• What ASIC mean when they ask for financial reports to be useful and meaningful - 04:12
• The significant upcoming impacts for companies if they don’t embrace the new accounting standards as outlined by ASIC - 08:21
• The requirements for Directors, being primarily responsible for the quality of the financial report – 10:25
• ASIC’s view on the major national and international developments which shape disclosure in the UFR – 13:05
• The role of financial report preparers - 18:37
• Focus areas appearing again how we can prevent this from reoccurring - 21:20
  
  

Further resources

- Transcript (PDF)
- ASIC 31 December 2017 financial reporting focus areas
- ASIC findings from 30 June 2017 financial reports
- Regulatory Guide 247: Effective disclosure in an operating and financial review
- Information Sheet 203: Impairment of non-financial assets - materials for directors
- Regulatory Guide 230: Disclosing non-IFRS financial information
- Financial reporting quiz for directors
- Information Sheet 183 - Directors and Financial Reporting