The European Union has taken steps to discourage, or prevent, entities from reporting on a quarterly basis, because it believes that interim reporting can encourage a focus on short-term behaviour, particularly by the entities.

In an article on 20 October 2014, the Financial Times claimed that ‘Reporting quarterly figures is bad for businesses, investors and markets.’  They state that while ‘in theory quarterly numbers force companies to be disciplined … this must be weighed against the chance that executives are rushing or delaying deals to smooth quarterly figures, when short-term variation is normal.  The risk is that, in an effort to hit quarterly forecasts, executives make the wrong long-term decisions.’

As a counter example, the New Zealand Government reports publicly using, essentially, IFRS each month, including updated fair values for the forests it owns.  The requirement was introduced because monthly reporting was seen to reduce the ability and therefore incentive to smooth earnings.  In the US, Progressive Insurance (ticker symbol PGR) issues unedited financial statements every month.

For more details on IFRS please read the following article-> IFRS Detail

For more details on IFRS ACCA please read the following article-> ACCA IFRS DETAILS

For fee related things pleases read the following article-> IFRS Fees