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KPMG's Global Mining Reporting Survey 2006
KPMG's Global Mining Reporting Survey 2006 was launched on December 12, 2006 around the globe.
The third triennial survey of its kind, hosted this year in Australia and researched by a team of KPMG professionals from around the world, KPMG's Global Mining Reporting Survey 2006 highlights some of the significant changes in the content and quality of financial reporting by the world's major mining companies.
With the 2005 adoption of IFRS, the variety of national GAAP choices has reduced but this has not removed diversity of application. This survey provides a vital snapshot for mining and resources companies on key accounting and financial reporting issues that impact the mining and resources sector during this transition period.
Of the 44 companies covered by this survey, 11 have transitioned to IFRS in the current reporting period, and a further 12 will need to transition when Canada moves to the IFRS framework in 2011. Further, the proliferation of new guidance, issued under the IFRS framework in the last two years, has caused accounting policy changes to comply with new IFRS guidance in nine of the companies surveyed who were already reporting under IFRS.
Highlights of the survey include:
- Survey of 44 annual reports and sustainability reports of the world's largest mining companies
- Trends outlined in global mining reporting - financial, sustainability and other reporting
- Update on the progress made in the harmonisation towards international accounting standards
- Examples of how companies are reporting some key areas such as impairment, revenue recognition and derivatives
- Sustainability section showing trends in reporting in this area
- Non financial section looking at boards and committee issues and other reporting such as mining methods, production volumes and sensitivities
This survey will be a valuable reference tool for CEOs, boards, finance directors, controllers and managers in benchmarking their financial and other reporting against some of the world's most significant mining companies.
To download: Right-click the link and select "Save Target As..." (PC) or control-click and select "Download Link to Disk" (Mac). Adobe Reader is required to read PDF documents.
If you would like a copy of KPMG's Global Mining Reporting Survey 2006 mailed to you, please click here.
For more information on the 2006 survey contact your local KPMG representative:
Lee Hodgkinson
Chairman, Global Mining Group
Partner
Toronto
+416 777 3414
lhodgkinson@kpmg.ca
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