19 companies provide 61 undertakings to improve their financial reporting
IAASA has today published summary information of its financial reporting enforcement activities undertaken during 2017.
The primary function of IAASA’s Financial Reporting Supervision Unit is to examine the compliance of financial reporting of those listed entities coming within its remit with applicable accounting standards.
In 2017, IAASA:
- examined the annual and half-yearly financial statements of 34 companies; and
- raised 101 separate matters with those companies.
As a result, 13 companies have provided 53 undertakings to improve their financial reporting in future years. One company voluntarily re-filed its financial report after an IAASA examination.
IAASA carried out 4 thematic examinations of aspects of companies’ financial reporting practices and published the results of those desk-based surveys.
The outcome of 21 financial reporting decisions reached in 2017 in respect of 6 companies were published by IAASA in the year
The Snapshot document may be accessed here.