Special purpose financial statements are prepared by non-reporting entities (ie an entity where there are no users who rely on the entity’s general purpose financial report for information that will be useful to them for making and evaluating decisions about the allocation of resources).
Non-reporting entities who are required to lodge their financial statements with the Australian Securities and Investments Commission (ASIC) can prepare special purpose financial statements however they are still obliged to comply with the recognition and measurement criteria of Australian Accounting Standards.
We work with our clients to determine the required reporting framework applicable to their organisation and are then able to prepare special purpose financial statements which ensure full compliance with the reporting obligations and their own internal reporting requirements.
We are able to provide immediate assistance.
