Report back on Proactive Monitoring of Financial
Statements in 2011
February 15, 2012
In February 2011 the Johannesburg Stock Exchange (“JSE”) announced that it
would commence a process of reviewing Annual Financial Statements for compliance
with International Financial Reporting Standards (“IFRS”). The integrity of
financial information is a critical element of a well functioning market. The
objective of the review process is therefore to contribute towards the
production of quality financial reporting of entities listed on the JSE.
The JSE wishes to announce that is has published a report which provides
an overview of the proactive monitoring activities in 2011. This report is
available on the JSE website.
This report is intended to be of interest
to all market participants, including Issuers, investors, auditors, other
regulators and the general public. It sets out the important points which came
to our attention during the year with a view to assisting Issuers when they
prepare their next set of accounts. By presenting the points in an uncomplicated
manner we also hope that this will help demystify IFRS for the public.
2012 -Report Back on Proactive Monitoring of Financial Statements in 2011