Certain countries may require that the three years of financial statements that is required in the document be reformatted into a combined presentation with one audit report rather than being presented as three sets of annual financial statements, or may require that financial statements for earlier years be restated to reflect changes such as a change in accounting policies. The specific requirements in certain countries are referenced below.
Hong Kong - In the case of a company listing in Hong Kong for the first time, particularly where there have been material changes to the group structure or accounting policies, certain adjustments or reclassifications to the figures previously reported in the financial statements may be required if the amounts involved are material. Adjustments are required where necessary in order for the financial statements to be presented on a consistent and comparable basis. The specific requirements are set out in Chapter 4 of the Stock Exchange of Hong Kong's Listing Rules.
Spain and The United Kingdom - In the case of a company listing in Spain or the UK for the first time, restated financial statements reported on by accountants may be required in certain circumstances particularly if there has been a material change to the company's group structure or accounting policies, unless the Supervisory Authority considers adequate disclosure has been made in relation to any such change. The specific requirements are set out for the UK in Chapter 12 of the Listing Rules.
