136x Filetype PPT File size 0.30 MB Source: www.xbrl.org
Overview Overview 1. The Regulatory Framework - Who does what 2. Financial Reporting in Au - Continuous vs. Periodic 3. Stepping Stones 4. Adoption Progress 5. Lessons 6. New Dawn? THE REGULATORY FRAMEWORK THE REGULATORY FRAMEWORK [XBRL-Au focus has been on regulatory adoption] [ Organizational Equivalents USA Au SEC ASIC FIDC APRA FASB AASB NYSE/NASD et al ASX DTC (securities clearing) ASX EDGAR ASX (“CAP”) AICPA ICAA;CPAA;NIA THE REGULATORY FRAMEWORK THE REGULATORY FRAMEWORK 2 2 1. Enforcement: Corps Act and Accounting Standards - Australian Securities & Investments Commission [ASIC] [Stds are issued by Au. Accounting Stds. Board; part of Fin. Rep. Council. “AASBs” is generic name for all Au standards] THE REGULATORY FRAMEWORK THE REGULATORY FRAMEWORK 3 3 2. Prudential Regulation - Financial Institutions : APRA - Other Corps : ASIC 3. Market Provider : ASX - ASX Supervises its Rules: Listing; Market; Clearing THE REGULATORY FRAMEWORK THE REGULATORY FRAMEWORK 4 4 1. Stock brokers; traders etc - licensed and regulated by ASIC 2. Prudential Regulation “participants” in ASX market supervised by ASX re. Capital Adequacy (risk to market); internal controls; fair dealing
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