Corporate & Commercial
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Securities Commission completes Cycle 6 of Financial Reporting Surveillance Programme
The Securities Commission has reviewed financial reports of 30 issuers with balance dates from 31 December 2006 to 30 April 2007, reporting that few matters were identified in the review.
The Commission reports that it is "encouraged by the commitment of the issuers and their auditors to comply with NZ GAAP and to provide a true and fair view of their state of affairs". Compliance with NZ GAAP is described as "good, however, there is still room for improvement".
The Commission intends to continue its financial reporting surveillance programme, and to take appropriate steps to encourage compliance with Financial Reporting Standards and other aspects of NZ GAAP.
For a copy of the report on Review of Financial Reporting by Issuers Cycle 6, go to www.seccom.govt.nz
Enquiries and information
For more information on any of the cases, articles and features in Financial Services Quarterly, please email Rachel Gowing or call on 64 9 916 8825.
Disclaimer
This publication is necessarily brief and general in nature. You should seek professional advice before taking any action in relation to the matters dealt with in this publication.
