ICAEW.com works better with JavaScript enabled.

Guidance for preparers of pro forma financial information

Technical Release TECH 01/15CFF provides practical help for applying the preparation and presentation requirements of the Prospectus Directive (PD) Regulation.

Under the PD Regulation, a company which issues a prospectus in connection with a share issue must, in the case of a ‘significant gross change’, include a description of how the transaction might have affected the assets and liabilities and earnings of the issuer, had the transaction been undertaken at the commencement of the period being reported on or at the date reported.

A ‘significant gross change’ is defined in the PD Regulation as a variation of more than 25% relative to one or more indicators of the size of the issuer’s business, in the situation of an issuer due to a particular transaction, with the exception of those situations were merger accounting is required.

The guidance and commentary in TECH 01/15CFF can help prepare pro forma financial information that complies with the requirements of the PD Regulation. 

The guidance may also be useful in situations were there are no regulatory requirements governing the preparation of pro forma financial information.

TECH 06/15 CFF replaces TECH 01/15CFF.

TECH 01/15CFF replaced the guidance in TECH 19/98 Pro forma financial information, Guidance for Preparers under the Listing Rules.

View non-confidential responses to the October 2013 Exposure Draft:

View non-confidential responses to the May 2013 Status Report: