Friday, 15th January, 2010: The Authority has today published observations on selected year end financial reporting issues affecting entities whose securities are listed on a regulated market and whose home Member State is Ireland. In presenting their results and financial positions in respect of financial years ending on or after 31 December, 2009, issuers continue to report against a background of ongoing market uncertainty, reduced access to credit, weak economic activity and potentially impaired asset values. Each of these factors gives rise to increased risk and uncertainty in the recognition, measurement, classification, presentation and disclosure of revenues, expenses, assets and liabilities in periodic financial reports. Set against this backdrop the observations document has been developed with a view to providing information and assistance to issuers’ Boards and Audit Committees. The document also provides details of certain areas that are likely to be the focus of IAASA’s financial reporting review activity during the coming year. The document can be accessed here.