This guidance note is intended for issuers, their directors and
preparers of financial information. It sets out the Financial
Market Authority's (FMA) expectations on the use of financial
information in corporate documents, such as transaction documents
and market communications, where that financial information is not
presented in accordance with generally accepted accounting practice
(GAAP) or is presented as an alternative to the statutory profit.
We describe this as non-GAAP financial information.
This guidance note does not replace GAAP or the law.
Disclosure of financial information that does not follow this
guidance note will not necessarily breach the law. However,
in our view, following this guidance note will increase the
likelihood of compliance with regulatory requirements. FMA
will assess non-GAAP financial information disclosures against this
guidance from 1 January 2013.
The examples we use in this guidance note are for illustration
only. The examples are not exhaustive and do not impose or
imply particular rules or requirements.
Every issuer must comply with all regulatory requirements for
financial reporting. We do not repeat all regulatory
requirements in this guidance note, although we refer to some where
this is appropriate.
This guidance note does not constitute legal advice. We encourage
you to seek your own professional advice to find out how any
applicable laws apply to you, as it is your responsibility to
determine your obligations.
This guidance note is based on regulatory requirements as at
September 2012.