13RU-002 Operating and financial review disclosures | KPMG | AU

13RU-002 Operating and financial review disclosures in directors' report

13RU-002 Operating and financial review disclosures

This Reporting Update overviews ASIC’s Regulatory Guide 247 on the preparation of a financial review by listed entities under s299A of the Corps Act.


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Key insights

  • ASIC has issued final guidance on preparing operating and financial reviews by listed entities.
  • Principles based guidance to improve the effectiveness of OFRs.
  • Guidance on how to apply the unreasonable prejudice exemption from disclosing strategies and prospects.
  • ASIC does not expect OFRs to contain same level of information as a prospectus.
  • Applies for 30 June 2013.


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Reporting Updates are KPMG's way of communicating changes occurring within the Australian financial reporting environment to our clients.

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Financial Reporting & Accounting Standards

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