Skip Navigation.
Go to home page - Securities Commission New Zealand.
  • About
  • Publications
  • Exemptions
  • Notices
  • What's new?
  • International
  • Speeches
  • Information for investors
  • Contact us
  • Site map
  • Home

Print this page.
Print full document.

REVIEW OF FINANCIAL REPORTING BY ISSUERS
CYCLE 4

Financial Reporting Surveillance Programme

31 May 2007
CONTENTS

EXECUTIVE SUMMARY
INTRODUCTION

Financial Reporting Surveillance Programme
Cycle 4 Review of Financial Reporting by Issuers
RESULTS OF THE REVIEW
Follow-up Action
Outcome of Matters Raised
FINDINGS UNDER NZ EQUIVALENTS TO INTERNATIONAL FINANCIAL REPORTING STANDARDS
Quality of explanation of transition to NZ IFRS
Share-based payment transactions not identified and not disclosed
The presence of a liability component in a convertible note
Common non-disclosures
FINDINGS UNDER PREVIOUS NZ GAAP
Non-consolidation of controlled entities
Prospective financial information and accounting policies
Omission of disclosures required by FRS-41
Lack of explanation of actual versus prospective financial information variances
Minor Matters
MARKET MATTERS: NZX REFERRALS
FOLLOW-UP FROM THIS CYCLE
FOLLOW-UP FROM OTHER CYCLES
ONGOING REVIEW AND ENFORCEMENT