Interpretations

Introduction

Interpretations are issued by the AASB to provide requirements concerning urgent financial reporting issues. Since mid-2006, the AASB has direct responsibility for developing both Australian equivalents of IFRIC Interpretations and domestic Interpretations, thus replacing the former Urgent Issues Group (UIG).

AASB and UIG Interpretations apply no earlier than annual reporting periods beginning on or after 1 January 2005. The previous series of UIG Abstracts applied prior to then. All UIG Abstracts have been withdrawn.

AASB and UIG Interpretations are listed in Accounting Standard AASB 1048 Interpretation of Standards, giving them authority under the Corporations Act 2001 alongside the Standards. Interpretations (like the preceding Abstracts) are mandatory for members of CPA Australia, The Institute of Chartered Accountants in Australia and the National Institute of Accountants, and as such must be consistently applied in the preparation and presentation of general purpose financial statements. Interpretations may also be given authority by other legislative or regulatory bodies, such as Commonwealth, State and Territory Treasuries or their equivalent.

The AASB formally approves or rejects proposed new Interpretations. A proposed Interpretation may be published on the web site for a period of time, but has no authority. An Interpretation approved by the AASB is now formally issued as an AASB Interpretation.

The published text of Interpretations and Abstracts can be purchased through the AASB's publications service.

Table of AASB & UIG Interpretations

Note:
This table lists in numeric order only the most recent version of each Interpretation. Some of these versions will apply to future reporting periods, but may be applied early. Use the Search pronouncements by reporting period page to find the version of each Interpretation that applies to any particular reporting period. Use the RDR early application versions page to find the non-mandatory RDR versions of Interpretations.

Where an Interpretation has been amended and a compiled version has been prepared, the compiled version is listed below. The original Interpretation and any previous compiled version can be found using the Browse for pronouncements page (select "no" for "Show only most recent"). Amending Standards and Errata are listed below until compiled versions of all the Interpretations they affect are uploaded. Use the Search for a specific document page to find individual, or lists of, Amending Standards and Errata.

The Notes column below identifies when the Interpretation listed is a compiled version. The date shown in the Issue Date column is either the date the Interpretation was approved by the AASB or the date of the most recent amendment by the AASB included in the compiled version. The Operative Date indicates the beginning (or end) of the first annual reporting period to which the Interpretation applies.

AASB & UIG Interpretations