As the 2009 financial year-end approaches, the Institute has prepared a practical guide to address significant issues and areas that preparers, audit committees and auditors need to consider in undertaking their professional responsibilities.  
 
The Institute’s Essential Guidance for the 2009 Financial Year End, focuses on three key areas of concern in these difficult reporting environments: fair value, asset impairment and going concern.  
 
In preparing this guidance, the Institute has analysed previous reporting periods and current international developments, and had extensive communication with all parties directly involved with financial reporting and auditing.  
 
The guidance was designed to be practical and provide members and the broader business community with dedicated resources. It should be used as a reference tool and can be found here (PDF). More information is also available in the media release.