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.
