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Amendments to the JSE Listings Requirements in relation to Pro Forma Financial Information
General – Amendments to the JSE Listings Requirements in relation to Pro Forma Financial
Information
The Listings Requirements require that issuers obtain sign off in certain circumstance from
their reporting accountant on pro forma information. Currently that sign off is in the form of a
limited assurance report, which must follow the guidance set out in a SAICA Guide on Pro Forma
Financial Information issued in 2005 and International Standards on Assurance Engagements
applicable to Assurance Engagements Other than Audits or Reviews.
In all instances the Listings Requirements require reporting accountants to conduct their
various engagements in accordance with the relevant standards issued by the International
Auditing and Assurance Board (“IAASB”). Until recently the IAASB had no specific standard on pro
forma information, and thus the development and issue of local guidance in 2005. This has now
changed through the issue of ISAE 3420 - Assurance Engagements to Report on the Compilation of
Pro forma Financial Information Included in a Prospectus. This international assurance standard
is effective for assurance reports dated on or after 31 March 2013.
Changes to the Listings Requirements have been made to take into account this change. SAICA has
removed the assurance aspects from their pro forma guide and as such will issue a revised 2012
guide without these aspects. Please note that the SAICA guide also contains some other minor
amendments as detailed therein.
Bulletin 8 to the Listings Requirements will be issued today and will be available on the JSE
website at http://www.jse.co.za/How-To-List/Listing-requirements/Bulletins.aspx
The effective date for the changes to paragraphs 8.49 and 8.50 is 7 October 2012.
The effective date for the remainder of the changes is for all assurance reports issued on or
after 31 March 2013.
3 September 2012
Date: 03/09/2012 03:07:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
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indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
