FMA Issues Monitoring Report on Improving Financial Statements
Following its 2018 review of the financial statements of entities in the NZX 50, the Financial Markets Authority ("FMA") has released a report entitled Improving Financial Statements ("the Report").
The Report examines changes made to financial statements since the FMA's 2014 review of finanical reporting and sets out the FMA's suggestions for additional improvement.
It is highly recommended that preparers of financial statements review the Report and apply the recommendations made in it in the preparation of their financial statements to increase the effectiveness of financial statements as a communication tool and to assist investors in making confident and well-informed decision in a fair, efficient and transparent financial market.
The Report can be accessed on the FMA’s website here.
For more on the above, please contact your local BDO representative.