Clarity Spring Edition 2019
31 Oct 2019
RIDING THE ROLLERCOASTER OF FINANCIAL REPORTING REFORM IN AUSTRALIA
Reform is upon us and some of the following topics may have some in a head spin!
• Ending Special Purpose Financial Statements (SPFS)
• Disclosing extent of compliance with Australian Accounting Standards (AAS)
• Moving to consolidated financials
• A new reduced disclosure standard
It’s all moving too fast for some.
Most financial report preparers have recently gone through a transition to new requirements for financial instruments, revenue and leasing. Now we all need to get across the next suite of changes – which are coming through at velocity.
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