Financial reports are set to become more relevant and concise for many not-for-profit and non-listed entities, under changes proposed by the AASB.
ED 277 Reduced Disclosure Requirements for Tier 2 Entities, issued on 31 January, proposes changes to reduced disclosure requirements (RDR) and in some places major reductions to the requirements. The proposals aim to address concerns about the length and relevance of reports produced under the current requirements of RDR. Comments, whether formal or informal, on the ED are requested by 26 May 2017.
To view ED 277 click here.