Completed
Date

Thursday 26 May 2022

Time

2:30 pm

Duration

1.5 CPD Hours

Session Topic

Time to address common financial-statement shortcomings

ASIC-inspired corporate restatements, and the commission’s inspection results and financial-reporting focus show where statement-preparers struggle with applying accounting standards.  These shortcomings expose entities to breaching reporting mandates, inefficient practices, and exposure to regulatory and market sanctions.

In this session we will:

  • Revisit the key requirements of asset impairment, expected credit losses, and tax-effect accounting and disclosure, and
  • Discuss procedures to improve financial-statement preparation and presentation.
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This session is presented by:

Colin Parker

Principal | GAAP Consulting | Financial Reporting Expert

Colin, Principal of GAAP Consulting, is an expert in financial reporting, auditing and related governance issues, and was previously a member of the Australian Accounting Standards Board. He has conducted many independent expert and consulting experts reports on professional negligence, and accounting and auditing standards. He is the team leader advisory and litigation services and adviser to GAAP Training and Reportfraud.

 

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Carmen Ridley

Principal | Australian Financial Reporting Solutions

Carmen has an excellent knowledge of financial reporting through significant experience with a number of major accounting firms in both the external audit and technical divisions and spending significant time analysing and interpreting accounting standards for clients. Carmen is the co-author of ‘Understanding and Implementing the Reduced Disclosure Regime’. Carmen is serving her third three-year term as a member of the AASB.