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Australian Accounting Standards Board Developing, issuing and maintaining Australian Accounting Standards and related pronouncements

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ED 282 Definition of Material – This ED proposes minor amendments to AASB 101 Presentation of Financial Statements and AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors to clarify the definition of ‘material’ and improve understanding of the current requirements... Read More

Proposals to make narrow-scope amendments to AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors are now available for public consultation. The proposed amendments would clarify the definition of accounting policies and add a definition of accounting estimates, as well as clarify the distinction between the two. The amendments are a consequence of the IFRS Interpretations Committee being made aware of divergent practice in distinguishing accounting policies from accounting estimates, which could affect an entity’s profit or loss. Comments to the AASB are requested by 17 November 2017.

Tax Transparency Code – FAQs and call for feedback: following the June Wolters Kluwer webinar on AASB draft guidance on the Tax Transparency Code, we have developed an FAQ document addressing questions raised about calculating ETRs. Click here to give us your feedback on the guidance via a five-minute survey.

We are pleased to announce the appointment of Damian Paull to the role of National Director, AASB and AUASB. Damian is a proven CEO with an excellent track record of leadership, change management and building high performance teams. Read More

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