Common financial reporting good for trans-Tasman investment
5 September 2012
Common financial reporting good for trans-Tasman investment, say accountants
Global accounting body CPA Australia says it welcomes the release by the Financial Markets Authority on Monday 3 September of its Guidance Note - Disclosing non-GAAP financial information.
David Jenkins, New Zealand Country Manager for CPA Australia, says the FMA Guidance Note, and the Australian Securities and Investments Commission’s Regulatory Guide 230: Disclosing non-IFRS financial information, represent common thinking on how non-GAAP financial information is to be presented in transaction documents and investor communications other than financial statements.
“Trans-Tasman investment is important to the economic growth of Australia and New Zealand,” says Jenkins. “Setting the boundaries for these communications in this way will be good for investment in both countries.”
CPA Australia is one of the world's largest accounting bodies, representing more than 139,000 finance, accounting and business professionals in 114 countries. With a proud 125-year history, CPA supports its members with education, training and technical support, and has a particular emphasis on providing rewarding career pathways for top accounting graduates. CPAs are recognised as strategic business leaders and New Zealand members include senior finance professionals from some of the country’s largest public and private sector organisations. CPA Australia advocates not only on behalf of its members, but also on behalf of public interest. The organisation is committed to New Zealand and actively works with government and regulatory bodies to continuously improve standards and confidence in the local accounting and finance sector.