The Securities Commission has raised concerns with companies about aspects of their financial reporting, particularly the lack of clear information for investors.
The commission wrote to 16 out of 24 companies with a balance date of March 31 this year, raising 45 issues about the information in their reports.
The review showed there had been an improvement in the disclosures about investment property revaluations. However, better information was still needed about companies' operating segments, key business judgements and assumptions, and impairment relating to goodwill.
"Ensuring stakeholders and investors are fully informed about all areas of their investment is vital, and issuers must ensure they provide clear, concise and transparent financial statements which are easily understood," commission chairwoman Jane Diplock said.
The review focused on the NZIFRS 8 "Operating Segments" standard, introduced at the start of last year to give investors clear information about a company's operations and the information used to make operating decisions.
The commission was concerned that some disclosures did not meet the core principle of the standard, which required greater transparency than previously.
