AASB ED 295 & ED 297: For-profit Roundtable, Melbourne

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Productivity Commission

Rattigan Rooms 1 and 2, Tower Level 12, 530 Collins Street

Melbourne, VIC 3000

Australia

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Australian Accounting Standards Board Roundtable: Have Your Say on ED 295 and ED 297

About this Event

The Australian Accounting Standards Board (AASB) is running a series of roundtables for the for-profit and not-for-profit sectors, in regards to ED 295 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-profit Tier 2 Entities, and ED 297 Removal of Special Purpose Financial Statements for Certain For-Profit Private Sector Entities.

Background: What are these EDs proposing?

ED 295 proposes a new, separate disclosure standard (the Simplified Disclosure Standard) that would apply to all Tier 2 entities, including not-for-profit private sector entities and public sector entities (for-profit and not-for-profit, other than the Australian Government State, Territory, and Local Government). The AASB is proposing a new set of principles and methodology to be used in determining Tier 2 disclosures that are necessary for meeting user needs and that are based on the IFRS for SMEs Standard, to replace the current Australian Accounting Standards - Reduced Disclosure Requirements (RDR) framework.

ED 297 is proposing to remove the ability of for-profit large proprietary, unlisted public (other than companies limited by guarantee) and small foreign-controlled companies to publicly lodge special purpose financial statements (SPFS) with the Australian Securities and Investments Commission (ASIC).

The proposals will improve the consistency, comparability, transparency and enforceability of publicly lodged financial statements and better meet the needs of the users that are accessing them.

Your feedback during these roundtables is very important to us, and we look forward to hearing your contributions on the day.

Spaces are limited so be sure to book now.

Date and Time

Location

Productivity Commission

Rattigan Rooms 1 and 2, Tower Level 12, 530 Collins Street

Melbourne, VIC 3000

Australia

View Map

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