Welcome to the latest edition of our financial reporting publication that aims to keep you in the loop with all the latest accounting and financial reporting developments, and the potential impact they may have on your business.
This reporting season is set against a backdrop of uncertainty, meaning it won’t be ‘business as usual’ for many entities. ASIC highlights the changing and uncertain economic and market conditions as a key consideration for 30 June 2023 as this may impact several financial statement areas. We also highlight new accounting standards to consider and remind listed entities to ensure they meet their lodgement deadlines as the ASX will be strictly enforcing these. Charities need to be mindful of the new related party disclosures that are required in 30 June 2023 special purpose financial reports.
In this issue:
- Uncertainty a key consideration this reporting season
- Improving transparency in special purpose financial reports of charities
30 June reporting season
- New standards and interpretations
- ASIC focus areas
- Lodgement deadlines for listed entities
- Large ‘grandfathered’ proprietary companies