Farming thumbs up to financial reporting decision

Farmers are throwing a bouquet at the Government for deciding that large private companies don’t have to file their financial statements with the Registrar of Companies.

“We’re pleased the Government has listened to the concerns of Federated Farmers and other groups, says Federated Farmers President Don Nicolson.

“Federated Farmers was concerned the proposed reporting plan would have put larger farming entities on the same footing as public companies and compromised their privacy

“Not to mention additional compliance costs in accounting, auditing and reporting. In other words money better invested in productivity would have gone into a bureaucratic exercise.

“That the Government agrees with us is a victory for commonsense, “ concluded Mr Nicolson.