Our monthly Clarity in financial reporting newsletter informs you of key focus areas in financial reporting for the month: actions, developments, and dates.
ASIC extends financial reporting and AGM relief to December 2020 reporting periods
Action: Consider and respond to the ASIC focus areas in the December financial reporting period.
ASIC has released its focus areas for full-year and half-year financial reports for 31 December 2020.
Further update on extended December 2020 reporting deadlines
Action: Consider how the ASIC and ASX extensions may impact the delivery timeframes for your December 2020 financial reporting.
In late December 2020, the ASX released Class Waiver Decision – Extended Reporting and Lodgment Deadlines, to give effect to its announced intention to permit listed entities to take advantage of the extended ASIC lodgement deadlines for reporting periods ending on or before 7 January 2021.
Consistent with the extensions at June 2020, where an entity intends to avail itself of the extended deadlines under ASIC Corporations (Amendment) Instrument 2020/1080, the ASX waiver requires:
More information: Clarity publication Revised financial reporting deadlines for December 2020
Action: Use our tools and resources to assist in meeting financial reporting requirements in this reporting season.
Set out below is a brief summary of key resources relevant for financial reporting at 31 December 2020:
Two minute update
Why now? Ensure you are aware of the latest developments and consider important developments that are relevant to your organisation.
A quick summary of recent developments:
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