Foreign companies whose stocks are listed on United States Stock Exchanges are required to file Form 20-F reconciliations with the Securities and Exchange Commission if they prepare their consolidated financial statements in accordance with any standards different than current United States GAAP or IFRS.

Prior to 2014, AngloGold Ashanti prepared their annual audited consolidated financial statements contained in the annual report on Form 20-F for years ending on or before December 31, 2012 in accordance with United States GAAP. However, the company made a change in 2014 and prepared the annual audited consolidated financial statements contained in the annual report on Form 20-F for the year ended 31 December 2013 in accordance with IFRS as issued by the IASB.

For this Assignment, you are going to analyze the differences in the year ending 12/31/2012 figures found in the 2012 and 2013 Form 20-F Reconciliations.

Download the 2013 Form 20-F and the 2012 Form 20-F.

Compare the 2012 financial data found in the 2013 Form 20-F with the 2012 financial data found in the 2012 Form 20-F Reconciliation. Analyze the differences in the key financial indicators used by financial analysts and comment on your findings. Make sure you include, at a minimum, answers to the following questions in your analysis.

1) What is the difference between IFRS Revenues and United States GAAP Revenues for 2012?

2) What is the difference between IFRS Net Income and United States GAAP Net Income for 2012?

3) How might these differences influence investor decisions?

4) How might these differences influence financial analysts? assessment of the company? Consider using financial ratios to support your answer.

5) What are some key differences in the figures found on the balance sheet for 2012?

6) Which method would the AngloGold Ashanti management prefer to report to stakeholders? Why?

7) Why are 20-F Reconciliations helpful to investors considering investing in foreign companies listed on US Exchanges?

I will upload the forms 20-F 2012, and 2013.

As filed with the Securities and Exchange Commission on April 26, 2013 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FINANCIAL YEAR ENDED DECEMBER 31, 2012 Commission file number: 1-14846 AngloGold Ashanti Limited (Exact Name of Registrant as Specified in its Charter) Republic of South Africa (Jurisdiction of Incorporation or Organization) 76 Jeppe Street, Newtown, Johannesburg, 2001 (P.O. Box 62117, Marshalltown, 2107) South Africa (Address of Principal Executive Offices) ME Sanz Perez, Company Secretary, Telephone: +27 11 6376306, Facsimile: +27 86 6750137 E-mail: rsanz@anglogoldashanti.com, 76 Jeppe Street, Newtown, Johannesburg, 2001, South Africa (Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person) Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered American Depositary Shares New York Stock Exchange Ordinary Shares New York Stock Exchange* 6.00 Percent Mandatory Convertible Subordinated Bonds due 2013 New York Stock Exchange * Not for trading, but only in connection with the registration of American Depositary Shares pursuant to the requirements of the Securities and Exchange Commission Securities registered pursuant to Section 12(g) of the Act: None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None Indicate the number of outstanding shares of each of the issuer's classes of capital or common stock as of the close of the period covered by the annual report: Ordinary Shares of 25 ZAR cents each 383,320,962 E Ordinary Shares of 25 ZAR cents each 1,617,752 A Redeemable Preference Shares of 50 ZAR cents each 2,000,000 B Redeemable Preference Shares of 1 ZAR cent each 778,896 Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Yes No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No Indicate by check mark whether the registrant (1) has submitted electronically and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of \"accelerated filer and large accelerated filer\" in Rule 12b-2 of the Exchange Act. (Check one): Large Accelerated Filer Accelerated Filer Non-Accelerated Filer Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing: U.S. GAAP International Financial Reporting Standards as issued by the International Accounting Standards Board Other If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No TABLE OF CONTENTS Page Presentation of information 3 Certain forward-looking statements 4 Glossary of selected terms Mining terms 5 Financial terms 8 Currencies 8 Abbreviations 9 Part I: Item 1: Identity of directors, senior management and advisors 10 Item 2: Offer statistics and expected timetable 10 Item 3: Key information 3A. 10 Capitalization and indebtedness 14 3C. Reasons for the offer and the use of proceeds 14 3D. Item 4: Selected financial data 3B. Risk factors 14 Information on the company 41 4A. History and development of the company 41 4B. Business overview 42 4C. Organizational structure 94 4D. Property, plants and equipment 95 Item 4A: Unresolved staff comments 120 Item 5: Operating and financial review and prospects 121 5A. Operating results 122 5B. Liquidity and capital resources 148 5C. Research and development, patents and licenses, etc 157 5D. Trend information 157 5E. Off-balance sheet arrangements 157 5F. Tabular disclosure of contractual obligations 157 Item 6: Directors, senior management and employees 6A. Directors and senior management 158 6B. Compensation 165 6C. Board practices 171 6D. Employees 176 6E. Item 7: 178 Share ownership 185 7A. Major shareholders 187 7B. Related party transactions 188 7C. Item 8: Major shareholders and related party transactions Interests of experts and counsel 188 Financial information 8A. Consolidated financial statements and other financial information 189 Legal proceedings 8B. 189 Dividends 195 Significant changes 195 1 Item 9: The offer and listing 9A. Offer and listing details 196 9B. 196 Markets 197 9D. Selling shareholders 197 9E. Dilution 197 9F. Item 10: Plan of distribution 9C. Expenses of the issue 197 Additional information 10A. Share capital 198 10B. Memorandum of Incorporation 201 10C. Material contracts 212 10D. Exchange controls 215 10E. Taxation 216 10F. Dividends and paying agents 220 10G. Statement by experts 220 10H. Documents on display 220 10I. Subsidiary information 220 Item 11: Quantitative and qualitative disclosures about market risk. Item 12: 221 Description of securities other than equity securities 12A. Debt securities 228 12B. Warrants and rights 228 12C. Other securities 228 12D. American Depositary Shares 12D.3 Depositary fees and charges 228 12D.4 Depositary payments for 2012 228 Part II: Item 13: Defaults, dividend arrearages and delinquencies 229 Item 14: Material modifications to the rights of security holders and use of proceeds 230 Item 15: Controls and procedures 231 Item 16A: Audit committee financial expert 233 Item 16B: Code of Ethics and Whistleblowing Policies 234 Item 16C: Principal accountant fees and services 235 Item 16D: Exemptions from the listing standards for audit committees 235 Item 16E: Purchases of equity securities by the issuer and affiliated purchasers 235 Item 16F: Change in registrant's certifying accountant 236 Item 16G: Corporate Governance 236 Item 16H: Mine Safety Disclosure 236 Part III: Item 17: Financial statements 237 Item 18: Financial statements 238 and F pages Item 19 Exhibits E pages 2 PRESENTATION OF INFORMATION AngloGold Ashanti Limited In this annual report on Form 20-F, unless the context otherwise requires, references to AngloGold, AngloGold Ashanti, the company, the Company and the group are references to AngloGold Ashanti Limited including, as appropriate, subsidiaries and associate companies of AngloGold Ashanti. US GAAP financial statements The audited consolidated financial statements contained in this annual report on Form 20-F for the years ended December 31, 2012, 2011 and 2010 and as at December 31, 2012 and 2011 have been prepared in accordance with U.S. generally accepted accounting principles (US GAAP). IFRS financial statements As a company incorporated in the Republic of South Africa, AngloGold Ashanti also prepares annual audited consolidated financial statements and unaudited consolidated quarterly financial statements in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). These financial statements (referred to as IFRS statements) are distributed to shareholders and are submitted to the JSE Limited (JSE), as well as the London, New York, Australian and Ghana stock exchanges and are furnished to the US Securities and Exchange Commission (SEC) on Form 6-K. Currency AngloGold Ashanti presents its consolidated financial statements in United States dollars. In this annual report, references to rands, ZAR and R are to the lawful currency of the Republic of South Africa, references to US dollars, dollar or $ are to the lawful currency of the United States, references to are to the lawful currency of the European Union, references to C$ or CAD are to the lawful currency of Canada, references to ARS and peso are to the lawful currency of Argentina, references to AUD and A$ are to the lawful currency of Australia, references to BRL are to the lawful currency of Brazil, reference to NAD and N$ are to the lawful currency of Namibia, reference to Tsh is to the lawful currency of the United Republic of Tanzania and references to GHC, cedi or are to the lawful currency of Ghana. See \"Item 3A.: Selected financial data - Exchange rate information\" for historical information regarding the US dollar/South African rand exchange rate. On April 19, 2013 the interbank US dollar/South African rand exchange rate as reported by OANDA Corporation was R9.17/$1.00. Non-GAAP financial measures In this annual report on Form 20-F, AngloGold Ashanti presents the financial items \"total cash costs\As filed with the Securities and Exchange Commission on 14 April 2014 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FINANCIAL YEAR ENDED 31 December 2013 Commission file number: 1-14846 AngloGold Ashanti Limited (Exact Name of Registrant as Specified in its Charter) Republic of South Africa (Jurisdiction of Incorporation or Organisation) 76 Jeppe Street, Newtown, Johannesburg, 2001 (P.O. Box 62117, Marshalltown, 2107) South Africa (Address of Principal Executive Offices) ME Sanz Perez, Company Secretary, Telephone: +27 11 6376306, Facsimile: +27 86 6750137 E-mail: rsanz@anglogoldashanti.com, 76 Jeppe Street, Newtown, Johannesburg, 2001, South Africa (Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person) Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered American Depositary Shares New York Stock Exchange Ordinary Shares New York Stock Exchange* 5.375% Notes due 2020 New York Stock Exchange 8.500% Notes due 2020 New York Stock Exchange 5.125% Notes due 2022 New York Stock Exchange 6.50% Notes due 2040 New York Stock Exchange * Not for trading, but only in connection with the registration of American Depositary Shares pursuant to the requirements of the Securities and Exchange Commission Securities registered pursuant to Section 12(g) of the Act: None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None Indicate the number of outstanding shares of each of the issuer's classes of capital or common stock as of the close of the period covered by the annual report: Ordinary Shares of 25 ZAR cents each 402,628,406 E Ordinary Shares of 25 ZAR cents each 712,006 A Redeemable Preference Shares of 50 ZAR cents each 2,000,000 B Redeemable Preference Shares of 1 ZAR cent each 778,896 Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Yes No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No Indicate by check mark whether the registrant (1) has submitted electronically and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files)*. Yes No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of \"accelerated filer and large accelerated filer\" in Rule 12b-2 of the Exchange Act. (Check one): Large Accelerated Filer Accelerated Filer Non-Accelerated Filer Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing: U.S. GAAP International Financial Reporting Standards as issued by the International Accounting Standards Board Other If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No * This requirement does not apply to the registrant. TABLE OF CONTENTS Presentation of information 3 Certain forward-looking statements 5 Glossary of selected terms Mining terms 6 Financial terms and Non-GAAP metrics 9 Currencies 9 Abbreviations 10 Part I: Item 1: Identity of directors, senior management and advisors 11 Item 2: Offer statistics and expected timetable 11 Item 3: Key information 3A. 11 3B. Capitalisation and indebtedness 15 3C. Reasons for the offer and the use of proceeds 15 3D. Risk factors 15 Information on the company 43 4A. History and development of the company 43 4B. Business overview 44 4C. Organisational structure 90 4D. Item 4: Selected financial data Property, plants and equipment 91 Item 4A: Unresolved staff comments 117 Item 5: Operating and financial review and prospects 118 5A. Operating results 119 5B. Liquidity and capital resources 147 5C. Research and development, patents and licenses, etc. 154 5D. Trend information 154 5E. Off-balance sheet arrangements 154 5F. Tabular disclosure of contractual obligations 155 Item 6: Directors, senior management and employees 6A. 156 6B. Compensation 162 6C. Board practices 166 6D. Employees 171 6E. Item 7: Directors and senior management Share ownership 173 179 7A. Major shareholders 181 7B. Related party transactions 182 7C. Item 8: Major shareholders and related party transactions Interests of experts and counsel 182 Financial information 8A. 183 Legal proceedings 183 Dividends 8B. Consolidated financial statements and other financial information 190 Significant changes 190 1 Item 9: The offer and listing 9A. 191 9B. Plan of distribution 191 9C. Markets 192 9D. Selling shareholders 192 9E. Dilution 192 9F. Item 10: Offer and listing details Expenses of the issue 192 Additional information 10A. Share capital 193 10B. Memorandum of Incorporation 196 10C. Material contracts 207 10D. Exchange controls 209 10E. Taxation 210 10F. Dividends and paying agents 214 10G. Statement by experts 214 10H. Documents on display 214 10I. Subsidiary information 214 Item 11: Quantitative and qualitative disclosures about market risk. Item 12: Description of securities other than equity securities 215 12A. Debt securities 220 12B. Warrants and rights 220 12C. Other securities 220 12D. American Depositary Shares 12D.3 Depositary fees and charges 220 12D.4 Depositary payments for 2013 220 Part II: Item 13: Defaults, dividend arrearages and delinquencies 221 Item 14: Material modifications to the rights of security holders and use of proceeds 222 Item 15: Controls and procedures 223 Item 16A: Audit committee financial expert 226 Item 16B: Code of Ethics and Whistleblowing Policies 227 Item 16C: Principal accountant fees and services 228 Item 16D: Exemptions from the listing standards for audit committees 228 Item 16E: Purchases of equity securities by the issuer and affiliated purchasers 228 Item 16F: Change in registrant's certifying accountant 229 Item 16G: Corporate Governance 229 Item 16H: Mine Safety Disclosure 229 Item 17: Financial statements 230 Item 18: Financial statements 231 and F pages Item 19 Exhibits Part III: E pages 2 PRESENTATION OF INFORMATION AngloGold Ashanti Limited In this annual report on Form 20-F, unless the context otherwise requires, references to AngloGold, AngloGold Ashanti, the company, the Company and the group are references to AngloGold Ashanti Limited including, as appropriate, subsidiaries and associate companies of AngloGold Ashanti. IFRS financial statements As a company incorporated in the Republic of South Africa, AngloGold Ashanti has prepared and filed annual audited consolidated financial statements and unaudited consolidated quarterly financial statements in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) in the English language since 1998. These financial statements are distributed to shareholders and are submitted to the JSE Limited (JSE), as well as the London, New York, Australian and Ghana stock exchanges. In previous years the IFRS financial statements were furnished to the US Securities and Exchange Commission (SEC) on Form 6-K. The annual consolidated financial statements contained in the Form 20-F for the years ended 31 December 2012 and prior were prepared in accordance with U.S. generally accepted accounting principles (US GAAP). In 2013, AngloGold Ashanti has prepared the annual audited consolidated financial statements contained in this annual report on Form 20-F for the years ended 31 December 2013, 2012 and 2011 and as at 31 December 2013, 2012 and 2011 in accordance with IFRS as issued by the IASB. As a consequence of previously filing IFRS financial statements in our home country, we are not permitted to take advantage of any IFRS1 - \"First-time Adoption of International Financial Reporting Standards\" exceptions in this first filing of IFRS on Form 20-F. The company changed to reporting in accordance with IFRS in its Form 20-F to remove duplication, improve efficiencies as it reports in accordance with IFRS in its home country - South Africa and align with the majority of its peers. As this is a first time filing of IFRS on Form 20-F the financial statements include a reconciliation of IFRS to US GAAP for the 2012 and 2011 fiscal years. Refer: Item 18 Financial Statements - Note 42 - \"Reconciliation between IFRS and US GAAP\". Although this is a first filing of IFRS financial statements in the annual report on Form 20-F, we have highlighted the 2012 and 2011 years \"restated\" as they were restated as a result of the adoption of new accounting policies required in terms of IFRS in the Annual Financial Statements and Integrated Reports in our home country. Currency AngloGold Ashanti presents its consolidated financial statements in United States dollars. In this annual report, references to rands, ZAR and R are to the lawful currency of the Republic of South Africa, references to US dollars, dollar or $ are to the lawful currency of the United States, references to and Euro are to the lawful currency of the European Union, references to C$ or CAD are to the lawful currency of Canada, references to ARS and peso are to the lawful currency of Argentina, references to AUD and A$ are to the lawful currency of Australia, references to BRL are to the lawful currency of Brazil, reference to NAD and N$ are to the lawful currency of Namibia, reference to Tsh or TZS is to the lawful currency of the United Republic of Tanzania and references to GHC, cedi or are to the lawful currency of Ghana. See \"Item 3A.: Selected financial data - Exchange rate information\" for historical information regarding the US dollar/South African rand exchange rate. On 2 April 2014, the interbank US dollar/South African rand exchange rate as reported by OANDA Corporation was R10.56/$1.00. Non-GAAP financial measures In this annual report on Form 20-F, AngloGold Ashanti presents the financial items \"total cash costs\