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- Thinking Ahead Issue 4
CUTTING THE RED TAPE
Advocating for industry changes is just one
|'In Australia we have this ridiculous requirement that
listed companies prepare and lodge their annual report with the Australian Stock Exchange (ASX) within the same time period after balance date. The same time requirement applies whether you are BHP Billiton or a small-cap mining company.
A more commonsense approach from the regulators would be for listed companies to be required to have their annual reports lodged progressively over, say, a 5 month period. For example, those companies with the greatest level of "public accountability" (generally measured by their market capitalisation) would be required to lodge earlier. It also follows that these larger companies generally have better accounting processes and controls that enables these reports to be produced in a shorter time."The reward" for this is that broking houses would have more time to commit to reviewing and highlighting a company's financial results.'
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