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

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Office closure: our offices will be closed for the holiday period on 5 pm Friday 22 December and will re-open at 9 am on Monday 8 January 2018. We wish you a happy and safe holiday.  

Directors, trustees and others responsible for the preparation of financial statements make continuous judgements about materiality. The AASB Practice Statement 2 Making Materiality Judgements provides practical guidance and examples which may help in discussions with auditors and regulators. The AASB’s practice statement includes examples that are specific to not-for-profit private and public sector entities.

New Australian Accounting Standards: Three narrow-scope amending Standards and a new principal version of AASB 1048 have been released. Read More

ED 284 Recent Standards – Reduced Disclosure Requirements proposes to provide disclosure concessions for Tier 2 entities for AASB 16 Leases, AASB 1058 Income of Not-for-Profit Entities and AASB 1059 Service Concession Arrangements: Grantors. Please submit comments to the AASB on ED 284 no later than Saturday 31 March 2018 via the website or standard@aasb.gov.au.

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