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13RU-002 Operating and financial review disclosures in directors' report
13RU-002 Operating and financial review disclosures
This Reporting Update overviews ASIC’s Regulatory Guide 247 on the preparation of a financial review by listed entities under s299A of the Corps Act.
Key insights
- ASIC has issued final guidance on preparing operating and financial reviews by listed entities.
- Principles based guidance to improve the effectiveness of OFRs.
- Guidance on how to apply the unreasonable prejudice exemption from disclosing strategies and prospects.
- ASIC does not expect OFRs to contain same level of information as a prospectus.
- Applies for 30 June 2013.
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KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.
