ASIC beats the buzzer with the release of guidance on Australian OFR disclosures

The Australian Securities & Investments Commission (ASIC) has released Regulatory Guide 247, Effective disclosure in an operating and financial review , just in time for companies to implement the necessary changes to internal processes to ensure that the directors' report for end-of-June reporting dates is aligned with the guidance from ASIC.

The guide, which aims to promote better communication of useful and meaningful information to shareholders, and to assist directors in understanding their OFR requirements, provides guidance on the appropriate standards of disclosure required, the use of the 'unreasonable prejudice' exemptions for disclosing specific business strategies and prospects, and the presentation of the analysis and narrative relating to operations and financial position ... READ MORE

Released by CSA News Update - 10 April 2013