Prelim guidelines scheduled for release by ASB
The Accounting Standards Board should publish non-mandatory ‘best practice’ guidelines on the quality and type of information produced in companies’ preliminary announcements, according to the Scots ICA. A survey by the institute’s accounting standards committee found profit & loss statements identical to those in its annual report in only 70% of companies examined.
Committee convenor Graeme Bissett said all prelims ought to be based on audited results.