Interim financial reporting in transition

Abstract

The purpose of this article is twofold, firstly to provide information on the extent to which South African listed companies complied with local statutory and regulatory requirements for interim financial reporting in the three-year period 1996 to 1998. Secondly to provide information on the extent to which South African listed companies already complied with international and local accounting standards which became effective on 1 January 1999 and 1 July 1999 respectively. This information is used to establish reporting trends, identify weaknesses in reporting practices and make recommendations for improving the quality of interim financial reporting.