Review of the financial reporting framework
Published: 10.11.2009
The Ministry of Economic Development and the Accounting Standards Review Board have released complementary discussion documents asking fundamental questions about the financial reporting system.
The aim of the review is to create a coherent financial reporting system by removing the many anomalies in relation to which entities have to prepare financial statements and, if so, what set of standards will apply, whether an audit needs to be carried out and whether the statements need to be published.
The Ministry of Economic Development document considers the question of which entities should have financial reporting obligations. The companion document by the Accounting Standards Review Board then asks what reporting obligations should be imposed on each class of entity that would have reporting obligations. The two discussion documents can be found at MED’s and the ASRB’s websites: www.med.govt.nz and www.asrb.co.nz
|
Forward
to an associate
Print
this article
Back
to headlines
