Submission to Treasury on Australias corporate reporting framework

In a submission dated 3 February 2010 AICD provided its comments to Federal Treasury on the exposure draft of the Corporations Amendment (Corporate Reporting Reform) Bill 2010. AICD supported most of the proposed amendments, although it expressed opposition to changing the current wording of the directors’ declaration relating to financial statements and to some of the proposed restrictions on the payment of dividends. AICD also put forward that the proposed reporting thresholds for companies limited by guarantee should be lifted.