24 September 2018
Ray Hunt writes that while the preparation of 2017 financial statements is likely to be a recent memory for many, or may be still on-going for some, before long it will be time for thoughts to turn to the preparation of 2018 financial statements.
The Irish Auditing and Accounting Supervisory Authority (IAASA) has recently published its annual 'Observations' document highlighting key topics that Management, Directors and Audit Committees should consider when preparing and approving 2018 financial statements (available here).
The purpose of the Observations document is to assist management and those charged with governance in the preparation of high quality financial reports by offering observations on selected financial reporting topics to coincide with the preparation of 2018 financial statements. The matters raised in this document derive from a combination of:
Topics covered include:
An interesting read for all involved in in the preparation and approval of financial statements.
Ray Hunt is a member of the Company Law and Regulatory Committee and is also Head of Company Secretarial and Compliance Services at McCann Fitzgerald, Dublin.