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REVIEW OF FINANCIAL REPORTING BY ISSUERS
CYCLE 6
Financial Reporting Surveillance Programme
29 February 2007
CONTENTSEXECUTIVE SUMMARY
INTRODUCTION
The Commission's Financial Reporting Surveillance ProgrammeCYCLE 6: AN OVERVIEW
New Zealand Generally Accepted Accounting Practice (NZ GAAP)
Selecting issuers
ScopeCYCLE 6 SPECIFIC FINDINGS
Overall Comments
Outcome of Matters Raised
Referral to NZX
Moving to NZ IFRS
Getting the "basics" right
"Industry practices"
Matters relating to NZ IFRS financial statementsONGOING REVIEW AND ENFORCEMENT
Matters relating to previous NZ GAAP financial statements
Market matters
Substantial security holder information
Director share dealings
NZX referral