Bringing clarity to financial statements | KPMG | BS

Bringing clarity to financial statements

Bringing clarity to financial statements

Financial reports – cutting the clutter.

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Partner, Audit, Assurance & Risk Consulting

KPMG Australia

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Businessman going through financial report

Financial reports are increasingly lengthy and complex – reducing your ability to effectively communicate how your business is performing.

Even sophisticated readers can find it difficult to understand accounting jargon and identify important disclosures, including whether key financial measures have even been reported. 

Companies are increasingly looking to de-clutter their financial report, which is consistent with the views of regulators in improving the clarity and relevance of financial reporting.

The end product is a simplified, sharper and more relevant financial report that is easy to understand.

Key actions

  • Remove immaterial or irrelevant disclosures that have built up over time.
  • Reorder and relabel accounting policy and detailed notes so that they better reflect the key financial measures and focus areas of most relevance.
  • Convert technical wording into plain english, whilst still fully complying with relevant accounting standard and regulatory requirements.

© 2017 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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