Survey says end of financial year should change 9:33am 28.03.08

A survey conducted by Grant Thornton shows that three in four businesses find Australia’s end of financial year reporting deadlines to be ‘tight’. The response was particularly weighted towards listed companies of size below the ASX Top 200, accounting firms and non-listed companies.

The results support the case to have legislation altered so companies can select their own year-end dates and to give smaller companies more time to submit their reports in deference to their comparatively limited resources.
 
Most Australian businesses use 30 June as their year-end reporting date, but over half surveyed believed they should be allowed to choose their own year-end date.
 
The online survey was circulated to the CFOs of all listed companies in Australia as well as others working in the financial reporting field.