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AASB issues Exposure Draft: Disclosure in Special Purpose Financial Statements of Compliance with Recognition and Measurement Requirements

ED 293 proposes to require for-profit entities lodging special purpose financial statements (SPFS) with the Australian Securities and Investments Commission and not-for-profit entities lodging SPFS with the Australian Charities and Not-for-profits Commission to disclose an explicit statement as to whether or not the accounting policies applied in the SPFS comply with all the R&M requirements in Australian Accounting Standards (AAS).

To view the AASB high level summary of the proposal, click here.

To submit comments to the AASB on the Exposure Draft, click here.

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