Sharechat Logo

Firms get tick for reporting standards

Wednesday 6th August 2008

Text too small?
New Zealand companies generally have a good standard of financial reporting, the Securities Commission concluded after completing the seventh stage of its surveillance programme.

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



  General Finance Advertising    

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.

Related News:

28th October 2021 Morning Report
Wellington Drive Technologies Limited (NZX: WDT) Performs Strongly in Q3-2021
Ryman Healthcare Limited (NZX: RYM) Acquires Extensions to Two Existing Victorian Sites
Promisia Healthcare Limited (NZX: PHL) Banking Covenant Update
Pictor Limited Announces Start of US Clinical Trials for SARS-CoV-2 Serology Test
Arvida Group Limited (NZX: ARV) Opening of Rights Offer
Move Logistics Group Limited (NZX: MOV) Announces $40m Capital Raise
27th October 2021 Morning Report
The a2 Milk Company Limited (NZX: ATM) Investor Day 2021
Contact Energy Limited (NZX: CEN) Considers Green Capital Bond Offer