![Justine Combrink](https://www.forvismazars.com/var/mazars/storage/images/_aliases/user_block/media/global-contents/group-data-base/contact-photos/panoramic/justine-combrink/58202548-1-eng-GB/4059f092d491-Justine-Combrink.jpg.webp)
JSE Proactive Monitoring 2020 report and combined findings
This year’s report highlights specific topics which Audit Committees should consider when fulfilling their respective duties.
Some of the JSE 2020 focus areas detailed in the report include disclosure deficiencies around:
- the adoption of IFRS 9 Financial Instruments and 15 Revenue from Contracts with Customers,
- insufficient disclosure of significant judgements and estimates,
- lack of applying a materiality framework to the preparation of financial statements and
- specific errors identified relating to cash flow statement and deferred tax accounting.
The report also discusses some common areas of disclosure omissions where preparers are not fully providing the correct level of disclosure in their financial statements.
The JSE focus area for 2021 is the correct application of IFRS measurement and disclosures of the financial statements taking the impact of COVID-19 into account.
The JSE, along with the 2020 proactive monitoring report, has also released a combined findings document which combines all the results of previous monitoring reports between 2011 to 2019 and both reports can be found by clicking this link.
Our experts
![Justine Combrink](https://www.forvismazars.com/var/mazars/storage/images/_aliases/user_block/media/global-contents/group-data-base/contact-photos/panoramic/justine-combrink/58202548-1-eng-GB/4059f092d491-Justine-Combrink.jpg.webp)