Firms get tick for reporting standards

The securities regulator reviewed the financial statements of 44 companies with balance dates of Dec. 21, 2006, to September 30, 2007 and was prompted to write to 17 because of issues it found.

The results of the so-called Cycle 7 surveillance found similar issues to previous cycles: related party disclosures, financial instruments, directors' interests and share transactions, and substantial security holder disclosures.

The commission also urged companies to ensure they comply with the New Zealand version of International Financial Accounting Standards.

By Jonathan Underhill

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

FRW - Board update
THL - BGH Consortium confidentiality agreement executed
MEL - Meridian receives final approval on contingent storage
July 3rd Morning Report
KMD Brands completes share consolidation
July 2nd Morning Report
SPK - Spark notes Government spectrum policy announcement
SML - Synlait finalises refinancing and advises changes to balan
KMD strengthens balance sheet with debt refinance
GXH - Green Cross Health Limited - Annual Shareholders' Meeting