With the end of the financial year fast approaching comes the need to complete financial statements for companies. This year ASIC has reminded directors and preparers of financial statements to be aware of the impacts of these challenging economic times and have released a list of areas it will be focusing on. These include: uncertainties and risks that may affect asset values, liabilities, and assessments of solvency and going concern; asset values; disclosures; adequacy of provisions; and subsequent events after the reporting period.

Click to read our article: ASIC Focus Areas for 2022 Reporting (0.7 MB PDF)

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