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Accounting News - November 2010

21 November 2010

Tim Kendall , National Leader, Audit & Assurance |

Each year BDO gathers and summarises data to highlight the impact of Australia’s tight reporting deadlines. This newsletter displays the statistics for 30 June 2010 year ends and we once again suggest that the reporting deadlines continue to place a huge amount of pressure on the financial reporting system for Australian listed entities.

Also in this edition is a summary of the new IFRS 9 requirements for recognising fair value changes to financial liabilities for changes in credit risk. The Financial Reporting Panel has made its first four determinations and we clarify the use of the term ‘Tiers’ in different circumstances.