Financial reporting framework definition

Financial reporting framework means the framework for financial reporting as approved by the Minister from time to time; and
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Financial reporting framework means a set of criteria applied in preparing and presenting other historical financial information. The term includes any legal and regulatory requirements that supplement but do not conflict with the financial reporting framework.
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Financial reporting framework means a set of accounting principles, standards, interpretations and pronouncements that must be adopted in the preparation and submission of the annual financial statements of a particular class of entities, as defined in this Rule by the Commission. This includes, but not limited to, the Philippine Financial Reporting Standards and the Philippine Financial Reporting Standards for Small and Medium Entities.In prescribing the applicable financial reporting framework for a particular class or sub-class of entities covered by this Rule, the Commission shall consider the pronouncements and interpretation of the following bodies:
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Examples of Financial reporting framework in a sentence

  • Financial reporting framework The Fund has adopted a financial reporting framework incorporating the requirements of the Fund Rules and applicable requirements of Hong Kong Financial Reporting Standards (HKFRSs), which is a collective term that includes all applicable individual HKFRSs, Hong Kong Accounting Standards (HKASs) and Interpretations issued by the Hong Kong Institute of Certified Public Accountants (HKICPA).

  • Financial reporting framework All the State Enterprises and Parastatals financial statements are prepared in accordance with International Financial Reporting Standards as provided for by the Public Finance Management Act [Chapter 22:19].

  • Emphasis of matter – Financial reporting framework and restriction on use Without modifying our opinion, we draw attention to the principal accounting policies in which the applicable financial reporting framework is identified, as prescribed by the Authority.

  • Financial reporting framework The financial information provided in the Appendix 4D is based on the half-year condensed financial report (attached), which has been prepared in accordance with Australian equivalents to International Financial Reporting Standards (AIFRS).

  • DOI: http://doi.org/10.33893/FER.18.4.771111 Financial reporting framework.

  • Where the employee elects to act on his or her ownbehalf, forthwith take the matter up with the employer or the representative of the employer.

  • In the context of the Audit of Accounts, and for the purposes of the Audit opinion, in order to reach a conclusion on the completeness, accuracy and veracity of the annual financial reports or statements, the Audit Authority verifies whether all accounting information presented in the Annual financial reports or statements/annual accounts which are submitted to the Commission is prepared, in all material respects, in accordance with the applicable Financial reporting framework.

  • Communicating key audit matters in the auditor’s report is not a substitute for disclosures in the financial statements that the applicable Financial reporting framework requires management to make, or that are otherwise necessary to achieve fair presentation.

  • Financial reporting framework The Fund has adopted a financial reporting framework incorporating the requirements of the Fund Rules and applicable requirements of Hong Kong Financial Reporting Standards (HKFRSs) if not contrary to the Fund Rules.

  • This policy covers the following:• Financial reporting framework applicable to the entity.• IT application (system), if any, used for financial closure• Checklist to be used to ensure completeness of financial statements• Approval matrix related to financial closure activities.• Document Management Policy, including retention policy for documents related to financial closure.


More Definitions of Financial reporting framework

Financial reporting framework means a set of criteria applied in the preparation of other historical financial information;
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Financial reporting framework means a set of criteria applied in preparing and presenting the audited historical financial information from which the summarized audited financial information has been derived. The term includes any legal and regulatory requirements that supplement but do not conflict with the financial reporting framework.
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Financial reporting framework means a set of criteria applied in the preparation and presentation of the other historical financial information. Where legal and regulatory requirements supplement the financial reporting framework with additional requirements relating to the preparation and presentation of the other historical financial information, the financial reporting framework, for the purposes of applying the ISAs, encompasses both the financial reporting framework and such additional requirements, provided they do not conflict with the financial reporting framework.
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Financial reporting framework means a set of accounting principles, standards, interpretations and pronouncements that must be adopted in the preparation and submission of the annual financial statements of a particular class of entities, as defined in this Rule by the Commission. This includes, but is not limited to, the Philippine Financial Reporting Standards (PFRS), the Philippine Financial Reporting Standards for Small and Medium-Sized Entities (PFRS for SMEs) and Philippine Financial Reporting Standards for Small Entities (PFRS for SEs). The Commission shall have the authority subject only to prior consultation with concerned parties, to prescribe the most appropriate requirement that shall form part of the applicable financial reporting framework of corporations covered by this Rule. In prescribing the applicable financial reporting framework for a particular class or sub-class of entities covered by this Rule, the Commission shall consider the pronouncements and interpretation of the Philippine Financial Reporting Standards Council (FRSC). However, a financial reporting framework other than the PFRS that complies with the regulatory reportorial requirements of the concerned regulatory agency such as the Bangko Sentral ng Pilipinas (BSP) or the Insurance Commission (IC) may be allowed by the Commission.
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Related to Financial reporting framework

  • Financial Reporting Measure means any measure determined and presented in accordance with the accounting principles used in preparing the Company’s financial statements, and any measures derived wholly or in part from such measures, including GAAP, IFRS and non-GAAP/IFRS financial measures, as well as stock or share price and total equityholder return.

  • Financial Reporting Measures means measures that are determined and presented in accordance with the accounting principles used in preparing the Company’s financial statements, and all other measures that are derived wholly or in part from such measures. Stock price and total shareholder return (and any measures that are derived wholly or in part from stock price or total shareholder return) shall, for purposes of this Policy, be considered Financial Reporting Measures. For the avoidance of doubt, a Financial Reporting Measure need not be presented in the Company’s financial statements or included in a filing with the SEC.

  • Financial Report means the annual financial report prepared under Chapter 2M of the Corporations Act for the Company and its controlled entities;

  • Financial Reports means the Annual Financial Statements and the Interim Accounts.

  • Financial reporting year means the latest consecutive twelve-month period for which any of the following reports used to support a financial test is prepared:

  • Internal control over financial reporting means a process effected by an insurer’s board of directors, management and other personnel designed to provide reasonable assurance regarding the reliability of the financial statements, i.e., those items specified in Section 5(B)(2) through 5(B)(7) of this regulation and includes those policies and procedures that:

  • International Financial Reporting Standards means the accounting standards and interpretations adopted by the International Accounting Standards Board.

  • Common Reporting Standard means the standard for automatic exchange of financial account information in tax matters (which includes the Commentaries), developed by the OECD, with G20 countries;

  • Audited financial report means and includes those items specified in Section 5 of this regulation.

  • Rapid(ly) report(ing means within 72 hours of discovery of any cyber incident.

  • Internal control means a set of systems to ensure that financial and other records are reliable and complete and which ensure adherence to the entity's management policies, the orderly and efficient conduct of the entity, and the proper recording and safeguarding of assets and resources;

  • Internal Controls for districts means processes designed and im- plemented by districts to provide reasonable assurance regarding the achievement of objectives in the following categories:

  • Day reporting means a program of enhanced supervision

  • Internal Control Event means a material weakness in, or fraud that involves management or other employees who have a significant role in, the Borrower’s internal controls over financial reporting, in each case as described in the Securities Laws.

  • Central Repository means the repository responsible for the receipt, consolidation, and retention of all information reported to the CAT pursuant to SEC Rule 613 and the CAT NMS Plan.

  • Framework means the framework arrangements established by the Authority for the provision of the Services to Contracting Bodies by suppliers (including the Supplier) pursuant to the OJEU Notice;

  • Sustainability Structuring Agent means X.X. Xxxxxx Securities LLC, in its capacity as sustainability structuring agent hereunder.

  • Electronic Subcontracting Reporting System (eSRS) means the Governmentwide, electronic, web-based system for small business subcontracting program reporting. The eSRS is located at http://www.esrs.gov.

  • CMSA Operating Statement Analysis Report means a report substantially in the form of, and containing the information called for in, the downloadable form of the "Operating Statement Analysis Report" available as of the Closing Date on the CMSA Website or in such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage-backed securities transactions generally.

  • financial recovery plan means a plan prepared in terms of section 141 of the MFMA

  • Reliability means the degree of performance of the bulk electric system that results in electricity being delivered within Reliability Standards and in the amount desired. Electric system Reliability can be addressed by considering two basic and functional aspects of electric systems, which are Adequacy and Security.

  • Annual Statement of Compliance As defined in Section 3.13.

  • Financial Records means any document or summary of information contained in a document, including electronic documents, that contains information about the financial activities or position of a person including, but not limited to, information about the assets, balance sheets, budgets, cash flow, earnings, revenue, expenditures, income, investments, losses, liabilities, payroll, profits, retained earnings, or taxes.

  • Operating Statement Analysis Report format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • Financial Monitoring Report or “FMR” means each report prepared in accordance with Section 4.02 of this Agreement;

  • Reliability Standards means the criteria, standards, rules and requirements relating to reliability established by a Standards Authority.