Release of financial information before date of authorisation for issue
The management of an entity completes the primary financial statements (e.g. balance sheet, statement of comprehensive income, cash flow statement) for the year to 31 December 2012 on 21 January 2013, but has not yet completed the explanatory notes. On 26 January 2013, the board of directors (which includes management and non-executives) reviews the primary financial statements and authorises them for public media release. The entity announces its profit and certain other financial information on 28 January 2013. On 11 February 2013, management issues the financial statements (with full explanatory notes) to the board of directors, which approves the financial statements for filing on 18 February 2013. The entity files the financial statements with a regulatory body on 21 February 2013.
The financial statements are authorised for issue on 18 February 2013 (date the board of directors, approves the financial statements for filing).