In the 2018 Summer issue of Corporate Advisor, we explain 14 financial-reporting, regulatory, and corporate-governance topics to inform and help CFOs and directors.
We’re focusing mainly on regulatory issues that affect the preparation of 31 December reports – ASIC targets and its latest surveillance results.
There are no significant new accounting standards that require application. However, 1 January marks the application of AASB 15 Revenue from Contracts with Customers for for-profit entities and AASB 9 Financial Instruments and related AASB 7 Financial Instruments amendments. Next January sees AASB 15 and AASB 1058 Income of Not-for-Profit Entities and AASB Leases become operative. Preparers should not under-estimate the complexity of these standards and the challenges they confront us with. There is also help for preparers to better understand the nebulous concept of materiality through practice statement 2 Making Materiality Judgements.
We are looking at the penalties for those that have breached accounting standards.
Our guest contributors from GAAP Consulting include Andrew Parker, takes a look at whistleblower developments, and Carmen Ridley, who explains the principles of AASB interpretation.
Find out more here: Corporate Advisor Summer Edition 2018
Business Insurance is often overlooked by business owners due to a lack of understanding of what is available. If you’re like many business owners you have already insured the physical assets of your business from theft, fire and damage. BUT, have you considered the importance of insuring yourself – and other key people in your business – against the possibility of:
Read more here: How well protected is your business.pdf
Brendan Vaughan, outgoing Chairman of the Hall Chadwick Association, writes in his foreword about finding the balance between work goals and life goals when directing an accounting practice, managing staff and the expectations of clients.