Changes in financial reporting

Effective 2016 and beyond

By Giselle Cini

Recent amendments to financial reporting obligations present company directors with a number of possible different scenarios that include:

  • Which accounting rules to apply,
  • Which financial statements components to prepare and / or file with the Registrar of Companies,
  • Which consolidation exemptions remain available and on what conditions,
  • Whether to prepare a directors’ report and what new requirements are to be included therein when applicable, and
  • Which disclosures are still required to be made in the financial statements.

We are pleased to issue the attached publication to assist company directors and accountants in the preparation of company financial statements. The publication provides practical examples and tables that seek to explain the manner and extent to which companies are expected to be affected by these amendments.

We trust that this publication will provide useful and practical guidance, and we look forward to be of further assistance in this regard.

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