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ASIC focus areas for 30 June 2023 reporting

06/07/2023

ASIC has released the focus areas for 30 June 2023 reporting, highlighting the impact of uncertain market and economic conditions on reporting. The ASIC media release on 6 June 2023 outlined its key areas of focus for this reporting season, stressing the need for directors, preparers of financial reports and auditors to evaluate the potential […]

Financial Reporting series 2021

11/11/2021

Each session in the series will be focusing on topics that are expected to be of particular importance for financial reporting in 2021. Webinar 1 (18 March 2021): Removal of special purpose financial reporting Moving from Special Purpose to General Purpose Financial Statements Exempt entities Requirements of AASB 1060 i.e. New tier 2 General Purpose […]

NFP Special Purpose Financial Statements

09/03/2021

Not-for-profit entities are required to disclose how they do not comply with the recognition and measurement requirements of the Australian Accounting Standards Introduction Whilst the removal of Special Purpose Financial Statements (SPFS) has yet to impact Not-for-Profit entities (NFPs), the AASB has introduced AASB 2019-4. NFPs preparing SPFS from 30 June 2020 must now disclose […]

Webinar: Financial Reporting update

19/11/2020

Our team of experts discussed the latest changes to Australian reporting requirements and their potential implications for preparers of financial statements. In this webinar recording Bessie Zhang, Jimmy Cao, Tom Mullarkey, Callum Murray and Kerry McGoldrick covered the following topics: ASIC update and other regulatory changes Removal of Special Purpose Financial Reporting Asset valuation and impairment Financial […]

TEQSA Financial Viability Assessments

24/09/2020

The Tertiary Education Quality and Standards Agency (TEQSA) has mandated the provision of more financial data as part of its Financial Viability Assessments for education providers. What is required? As part of the Financial Viability Assessments, TEQSA requires education providers to submit the financial management accounts to 30 June 2020, which includes: Balance Sheet as […]

Financial Reporting update

29/05/2020

Our team of experts discussed the latest changes to Australian reporting requirements and their potential implications for preparers of financial statements. In this webinar recording Bessie Zhang, Rene Muller, Tom Mullarkey, Jimmy Cao and Callum Murray covered the following topics with nearly 500 attendees: COVID-19 impacts on financial reporting New Simplified Disclosure Regime (SDR) reporting […]

Uncertain tax positions

18/10/2019

From income years commencing 1 January 2019, reporting entities will be required to recognise or account for uncertain tax positions or treatments in their financial statements. Here are some of the key points you should be aware of: On first adoption, historical tax positions may need to be evaluated. At the very least, the income […]