ASB Issues Reporting Standard on the Operating and Financial Review (OFR)

The Accounting Standards Board (ASB) has today issued Reporting Standard (RS) 1 ‘The Operating and Financial Review’.

RS1 is the first Reporting Standard issued by the ASB under its new legal powers. The process of developing the standard was started in May 2004, when the Government announced its proposals for a statutory OFR and indicated that it intended to specify the ASB as the body to make reporting standards for the OFR.

See full Press Notice and Reporting Standard, in pdf format.