REVIEW OF FINANCIAL REPORTING BY ISSUERS
CYCLE 5

CONTENTS

EXECUTIVE SUMMARY
INTRODUCTION

The Commission's Financial Reporting Surveillance Programme
New Zealand Generally Accepted Accounting Practice (NZ GAAP)
Identifying issues

CYCLE 5: AN OVERVIEW

Scope
Overall Comments
Outcome of Matters Raised
Follow-up action

FUTURE ADOPTION OF NZ IFRS
CYCLE 5 FINDINGS ON THE APPLICATION OF NZ IFRS

Significant matters
Other matters
Improvements in disclosures

CYCLE 5 FINDINGS ON THE APPLICATION OF PREVIOUS NZ GAAP

Significant matters
Other matters
Improvements in disclosures

QUALITY OF FINANCIAL REPORTING
ALTERNATIVE NON-GAAP MEASURES
REFERRALS TO THE NEW ZEALAND INSTITUTE OF CHARTERED ACCOUNTANTS (NZICA)
ADOPTION OF IFRS GLOBALLY

International observations
IOSCO

ONGOING REVIEW AND ENFORCEMENT

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