Issue 10: Non-GAAP Measures | KPMG | CA

Issue 10: Non-GAAP Measures

Issue 10: Non-GAAP Measures

The SEC has updated its guidance on the use of non-GAAP measures; how will this impact mining companies’ financial statements?

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Partner, Audit & National Industry Leader, Mining

KPMG in Canada

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In May 2016, the SEC updated its guidance on the use of non-GAAP measures, and in doing so, outlined explicitly prohibited practices.

While this recent focus by regulators on non-GAAP disclosures is not specific to the mining industry, many of the hot button topics relate to measures or adjustments that are commonly seen in the industry.

According to KPMG’s 2016 Mining Reporting Survey, which looks at the fiscal year 2015 annual disclosures of 25 major mining companies, the following were the most common non-GAAP measures used in the industry.

Given the frequency of use in the mining sector, non-GAAP measures should be a priority for boards and finance executives.

Read the full report for more information on non-GAAP measures, guidance and the three key questions boards should be asking their leadership teams.

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