I am pleased to release this report from the FRC Managing Complexity Task Force.
The report has the support of the FRC, and is one stream of work being undertaken by FRC Task Forces to address strategic issues that were identified in the FRC Strategic Plan 2011-14.
We very much appreciate Bruce Brook's efforts in leading development of this report, as Chairman of the Managing Complexity Task Force. Bruce retires from the FRC, as the Business Council of Australia (BCA) nominated Member, in June this year and we plan to continue the good progress the Task Force has made in addressing this issue.
Interested parties should review the report and submit comments to the FRC by 31 July 2012 so that we can determine activities to focus on at our meeting on 28 August 2012 to continue the ongoing task of managing complexity in financial reporting.
Thank you very much for your interest.
Lynn Wood
Chairman FRC
29 May 2012