What impact does the TD have on reporting requirements for issuers?
The TD prescribes the minimum content of annual, semi-annual and interim management reports: • Annual Accounts – the TD requires all issuers to produce their annual accounts in accordance with IAS. These must be made public – at the latest – four months after the end of the financial year. The annual report must include audited financial statements, a management report and statements by responsible persons (see below). The financial statements of both EU and non-EU issuers will have to be prepared in accordance with IFRS (or an equivalent standard). The TD requires the management report to include an explanation of material events and transactions that occurred in the relevant period. It must also describe the impact of these events on the issuer’s and its controlled undertakings’, financial position (this information is already required in EU issuers’ management reports). • Semi-annual accounts – the management report must include an explanation of material events and transactions tha
Related Questions
- Are indirect and cumulative impact consideration, analysis, and documentation requirements the same for categorical exclusions, environmental assessments, and environmental impact statements?
- Do the address validation requirements of the Card Issuers Rules apply to corporate credit or debit cards?
- What are major regional differences, and their impact on MIS system requirements?
