The standard does not make publication mandatory

Learning objectives

• Explain that the Standard does not mandate the publication of interim financial reports: governments, securities regulators, stock exchanges or accountancy bodies decide which entities publish, how frequently and how soon after the end of the interim period.L1
• Recognise that the Standard encourages publicly traded entities to publish an interim financial report at least as of the end of the first half of their financial year and to make it available within 60 days of the end of the interim period, without making it an obligation.L1

Normative references

• IAS 34 §1The Standard does not mandate which entities should publish interim financial reports, how frequently, or how soon after the end of an interim period: such requirements often come from governments, securities regulators, stock exchanges or accountancy bodies for publicly traded entities. It applies whenever an entity is required or elects to publish an interim financial report in accordance with IFRS Accounting Standards, and encourages publicly traded entities, without requiring them, to provide at least a half-year report made available within 60 days of the end of the period.
• IAS 34 §2Each financial report, annual or interim, is evaluated on its own for conformity with IFRS Accounting Standards: the fact that an entity did not provide interim reports during the year, or provided interim reports that do not comply with the Standard, does not prevent its annual financial statements from conforming if they otherwise do so.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

2 questions

• A listed company applies IFRS in its annual financial statements; as a result, IAS 34 requires it to publish an interim financial report.L1
• Which statements about the publication of interim reports and the role of IAS 34 are correct? More than one answer is possible.L1