An Excerpt from the SEC Commissioned Report: A Balance Sheet Disclosure Compliance Check of Ten Publicly-Listed Companies

Abstract

This study is an excerpt of a SEC-commissioned report. It investigated the extent of compliance of 10 publicly-listed finance companies with regard to the provisions of relevant PFRS/PAS on balance sheet disclosure requirements. This was accomplished by examining the balance sheet and the related note disclosures of the 10 companies. It was found that all 10 companies had deficiencies in their balance sheet disclosures. It can be implied from this study that deficiencies in disclosure requirements stem from the standards themselves. Recommendations for the improvement of disclosure compliance were provided.