News

Latest news

This section contains the latest news and events from the AASB, information of relevance to the media, including media releases, media contact details, speeches and newsletters.

For older news please refer to the archive section.

30 Jun. 2009

AASB has issued ITC 21

The AASB invites comment on ITC 21 Request for Comment on IASB Discussion Paper DP/2009/2 Credit Risk in Liability Measurement.... Read more

30 Jun. 2009

AASB and FRSB issue ED on Reporting Income from Non-exchange Transactions

The Australian Accounting Standards Board (AASB) and the Financial Reporting Standards Board (FRSB) of the Institute of Chartered Accountants of New Zealand (NZICA) have released a joint Exposure Draft (ED) on reporting income from non-exchange transactions.... Read more

26 Jun. 2009

Latest AASB Website Update

The AASB has issued the Action Alert for the 99th meeting of the AASB, held 24-25 June 2009.... Read more

25 Jun. 2009

Approved 20-21 May 2009 Meeting Minutes are now available

The approved minutes for the 20-21 May 2009 AASB meeting (No.98) are now available.... Read more

23 Jun. 2009

Agenda paper 12.5 AASB 2009-Y Amendments to Australian Accounting Standards

Agenda paper 12.5 AASB 2009-Y Amendments to Australian Accounting Standards is now available.... Read more

23 Jun. 2009

AASB submission to IASB

The AASB has submitted its comments to the IASB on Discussion Paper Preliminary Views on Revenue Recognition in Contracts with Customers.... Read more

17 Jun. 2009

Agenda and agenda papers for AASB meeting, 24-25 June 2009

The agenda and three agenda papers for the AASB meeting of 24-25 June 2009 are now available.... Read more

15 Jun. 2009

AASB has issued a restructured version of AASB 1

AASB has issued a restructured version of AASB 1, now titled First-time Adoption of Australian Accounting Standards. The standard applies to annual reporting periods beginning on or after 1 Jul 2009.... Read more

15 Jun. 2009

An updated AASB June 2009 Board Meeting Agenda is now available

The updated Agenda, for the 24-25 June 2009 AASB Meeting, is now available.... Read more

12 Jun. 2009

AASB has issued Accounting Standards AASB 2009-4 and AASB 2009-5

The AASB has issued 2009-4 Amendments to Australian Accounting Standards arising from the Annual Improvements Project and 2009-5 Further Amendments to Australian Accounting Standards arising from the Annual Improvements Project.... Read more

11 Jun. 2009

Submissions to the AASB on ED 174

Submissions to the AASB on ED 174 Amendments to AASB Standards to facilitate GAAP/GFS Harmonisation for Entities within the General Government Sector.... Read more

5 Jun. 2009

The AASB has released Exposure Draft ED 182

The AASB has released Exposure Draft ED 182 Prepayments of a Minimum Funding
Requirement
[AASB Interpretation 14] for comment by 13 July 2009.... Read more

2 Jun. 2009

The AASB has released Exposure Draft ED 181

The AASB has released Exposure Draft ED 181 Fair Value Measurement, which incorporates IASB Exposure Draft ED/2009/5 Fair Value Measurement. Comments are requested by 28 August 2009.... Read more

26 May. 2009

Latest AASB Website Updates

The AASB has issued the Action Alert for the 98th meeting of the AASB, held 20-21 May 2009.... Read more

26 May. 2009

Approved 22 April 2009 Meeting Minutes are now available

The approved minutes for the 22 April 2009 AASB meeting (no.97) are now available.... Read more

22 May. 2009

The IFRIC seeks comment on a tentative agenda decision

The IFRIC is seeking comment on a tentative agenda decision regarding the meaning of 'significant or prolonged' in IAS 39 Financial Instruments: Recognition and Measurement.... Read more

20 May. 2009

AASB proposes sweeping changes to Super and ADF Financial Statements

The way superannuation plans and approved deposit funds (ADFs) report financial results may change, as the result of proposals in ED 179 Superannuation Plans and Approved Deposit Funds.... Read more

13 May. 2009

AASB May 2009 Board Meeting Agenda is now available

The Agenda, for the 20-21 May 2009 AASB Meeting, is now available.... Read more

12 May. 2009

The AASB Consultative Meeting Agenda is now available.

The Agenda for the 20 May 2009 AASB Consultative Meeting is now available.... Read more

1 May. 2009

The AASB submission to the IASB on Preliminary Views on Financial Statement Presentation is now available.

The AASB submission to the IASB in relation to ITC 19 Request to Comment on IASB Discussion Paper Preliminary Views on Financial Statement Presentation is now available.... Read more

29 Apr. 2009

AASB has issued Accounting Standards AASB 2009-1, AASB 2009-2 and AASB 2009-3

The AASB has issued AASB 2009-1 Amendments to Australian Accounting Standards – Borrowing Costs of Not-for-Profit Public Sector Entities, AASB 2009-2 Amendments to Australian Accounting Standards – Improving Disclosures about Financial Instruments and AASB 2009-3 Amendments to Australian Accounting Standards – Embedded Derivatives.... Read more

23 Apr. 2009

Latest AASB Website Updates

The AASB has released:
The Action Alert for the 97th meeting of the AASB, held 22 April 2009.
The approved Minutes from the 96th meeting of the AASB, held 4-5 March 2009.
An updated version of the AASB Work Program.
An updated version of the AASB Public Sector Policy Paper.... Read more

9 Apr. 2009

The AASB has released Exposure Draft ED 177

The AASB has released Exposure Draft ED 177 Derecognition (Proposed Amendments to AASB 139 and AASB 7), which incorporates IASB Exposure Draft ED/2009/3 Derecognition (Proposed Amendments to IAS 39 and IFRS 7). Comments are requested by 3 July 2009.

9 Apr. 2009

The AASB has released Exposure Draft ED 178

The AASB has released Exposure Draft ED 178 Income Tax. Comments are due to the AASB by 19 June 2009 and to the IASB by 31 July 2009.

8 Apr. 2009

The AASB staff have prepared a Supplement to ED 174

The AASB staff have prepared a draft Illustrative Example as a Supplement to Exposure Draft ED 174 Amendments to Australian Accounting Standards to facilitate GAAP/GFS Harmonisation for Entities within the GGS [AASBs 101, 107 and 1052].... Read more

3 Apr. 2009

Website update: AASB issues ITC 20

AASB invites comment on ITC 20 Request for Comment on IASB Discussion Paper DP/2009/1 Leases – Preliminary Views.... Read more

2 Apr. 2009

Roundtable Discussion on ED 174

The AASB invites you to participate in a Roundtable discussion on the AASB’s Exposure Draft ED 174 Amendments to Australian Accounting Standards to facilitate GAAP/GFS Harmonisation for Entities within the GGS.... Read more

2 Apr. 2009

Consolidated Financial Statements proposals would not improve financial reporting, says AASB

The AASB has made a submission to the IASB, on Exposure Draft ED 10 Consolidated Financial Statements... Read more

1 Apr. 2009

Amendment made to ED 174

A minor amendment has been made to paragraph 12 of ED 174 Amendments to Australian Accounting Standards to facilitate GAAP/GFS Harmonisation for Entities within the GGS [AASBs 101, 107 and 1052]... Read more

27 Mar. 2009

AASB Interpretation 18 Transfers of Assets from Customers is now available

AASB Interpretation 18 Transfers of Assets from Customers has been released by the AASB. ... Read more

18 Mar. 2009

The AASB submission to the IASCF on its Constitution Review is now available.

The AASB submission to the International Accounting Standards Committee Foundation (IASCF) on its Discussion Paper Review of the Constitution - Identifying Issues for Part 2 of the Review is now available.... Read more

16 Mar. 2009

The AASB submission to the NSS Secretariat in relation to AASB 138 DP is now available

The AASB submission to the NSS Secretariat in relation to AASB 138 DP is now available - Initial Accounting for Internally Generated Intangible Assets.... Read more

6 Mar. 2009

Approved February Meeting Minutes are now available

The approved minutes for the 5th February 2009 AASB meeting (no.95) are now available.... Read more

6 Mar. 2009

March 2009 Action Alert is now available

The Action Alert from the 4-5 March 2009 Board meeting is now available.... Read more

2 Mar. 2009

Roundtable discussions on ITC 18 Preliminary Views on Revenue Recognition in Contracts with Customers

The AASB would like to invite you to participate in a roundtable discussion on the IASB’s Discussion Paper Preliminary Views on Revenue Recognition in Contracts with Customers.... Read more

26 Feb. 2009

Agenda and agenda papers for AASB meeting, 4-5 March 2009

The agenda and five agenda papers for the AASB meeting of 4-5 March 2009 are now available.... Read more

17 Feb. 2009

AASB released ED 176 for comment

The AASB released ED 176 Proposed Amendments to Australian Accounting Standards – Borrowing Costs of Not-for-Profit Public Sector Entities.... Read more

13 Feb. 2009

AASB invites comment on Proposed Interpretation

The AASB invites comment on Proposed Interpretation Australian Superannuation Contributions Tax for Defined Benefit Plans.... Read more

12 Feb. 2009

Apply for the 2010 AASB Graduate Intern Program

The AASB is now seeking applicants for the 2010 Graduate Intern Program. Applications close 24 April 2009.... Read more

10 Feb. 2009

Roundtable discussions on ITC 19 Preliminary Views on Financial Statement Presentation

The AASB has issued an invitation to attend a roundtable discussion on ITC 19 Request to Comment on IASB Discussion Paper Preliminary Views on Financial Statement Presentation.... Read more

9 Feb. 2009

AASB released ED 175 for comment

The AASB released ED 175 Post-implementation Revisions to AASB Interpretations.... Read more

9 Feb. 2009

February 2009 Action Alert is now available

The Action Alert from the 5 February 2009 Board meeting is now available.... Read more

5 Feb. 2009

Approved December Meeting Minutes are now available

The approved minutes from the 17-18 December 2008 AASB meeting (no.94) are now available.... Read more

29 Jan. 2009

Additional agenda papers for AASB meeting 5 February 2009 are now available

Additional agenda papers for the AASB meeting of 5 February 2009 are now available.... Read more

14 Jan. 2009

The AASB issues ED 174

The Australian Accounting Standards Board (AASB) has issued Exposure Draft ED 174 Amendments to Australian Accounting Standards to facilitate GAAP/GFS Harmonisation for Entities within the GGS [AASBs 101, 107 and 1052]... Read more

9 Jan. 2009

Website update: AASB issues ITC 19

AASB invites comment on ITC 19 Request for Comment on IASB Discussion Paper Preliminary Views on Financial Statement Presentation.... Read more

23 Dec. 2008

AASB issues new documents

The AASB has issued four exposure drafts and one invitation to comment, one Interpretation, an amending Standard and one submission to the IASB.... Read more

22 Dec. 2008

The AASB submission to the IASB on Simplifying Earnings per Share is now available

The AASB submission to the IASB in relation to ED 166 - Simplifying Earnings per Share: Proposed Amendments to AASB 133 is now available.... Read more

22 Dec. 2008

Technical article update

The technical article, Not-for-profit entity requirements in Australian Accounting Standards has been updated.... Read more

19 Dec. 2008

AASB issues Accounting Standard AASB 2008-12

The AASB has issued AASB 2008-12 Amendments to Australian Accounting Standards – Reclassification of Financial Assets – Effective Date and Transition.... Read more

19 Dec. 2008

December 2008 Action Alert

The Action Alert from the 17-18 December 2008 Board meeting is now available.... Read more

1 Dec. 2008

Not-for-profit entities required to re-measure assets acquired in a merger

The Australian Accounting Standards Board has issued AASB 2008-11 Amendments to Australian Accounting Standard – Business Combinations Among Not-for-Profit Entities [AASB 3], which has the effect of requiring assets acquired in a merger of not-for-profit entities to be re-measured, normally at fair value, as at the date of the merger.... Read more

21 Nov. 2008

AASB releases ten compiled Accounting Standards

The AASB has produced ten compiled Accounting Standards to complete the set of standards applicable to the 2008/09 financial year.... Read more

17 Nov. 2008

AASB signs National Standard Setters Group communiqué to the IASB

The AASB has released a National Standard Setters Group communiqué to the International Accounting Standards Board (IASB). The full text of the communiqué is available here.... Read more

3 Nov. 2008

IPSASB Consultation Paper

The AASB has issued the IPSASB Consultation Paper on Phase 1 of its Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities. Comments are due to the AASB by 13 Feb 2009.... Read more

3 Nov. 2008

Comment letters and submission on ITC 16 Service Concession Arrangements

Comment letters to the AASB and the AASB submission to IPSASB are now available on the website.... Read more

3 Nov. 2008

Agenda papers for AASB meeting, 12-13 November 2008

Selected agenda papers for the AASB meeting of 12-13 November 2008 are now available.... Read more

31 Oct. 2008

Discussion Paper advocates consistent fair value measurement of intangible assets

The inconsistent accounting treatments for particular types of intangible assets are addressed in a discussion paper released by the Office of the Australian Accounting Standards Board (AASB) for comment by 15 May 2009.... Read more

30 Oct. 2008

November Board meeting agenda is now available

The agenda for the AASB meeting to be held 12-13 November 2008 is now available.... Read more

27 Oct. 2008

AASB submission to IASB on An Improved Conceptual Framework for Financial Reporting.

The AASB has made a submission to the IASB on its Exposure Draft An improved Conceptual Framework for Financial Reporting: The Objective of Financial Reporting and Qualitative Characteristics and Constraints of Decision-useful Financial Reporting Information... Read more

27 Oct. 2008

IPSASB Exposure Draft ED 35 IPSAS 5 "Borrowing Costs"

The IPSASB has issued Exposure Draft ED 35 IPSAS 5 "Borrowing Costs" (Revised 200X). The AASB seeks comments on ED 35 to use in developing its submission to the IPSASB.... Read more

24 Oct. 2008

AASB releases ED 169

AASB ED 169 Improving Disclosures about Financial Instruments: Proposed Amendments to AASB 7 is now available.

Comments are due to the AASB by 1 December 2008, or to the IASB by 15 December 2008.... Read more

22 Oct. 2008

AASB takes urgent action to assist with reclassifications of financial assets

The AASB released AASB 2008-10 Amendments to Australian Accounting Standards - Reclassification of Financial Assets.... Read more

17 Oct. 2008

AASB submission on IASB Discussion Paper

The AASB has made a submission to the IASB on its Discussion Paper Preliminary Views on an Improved Conceptual Framework for Financial Reporting: The Reporting Entity. ... Read more

16 Oct. 2008

Two AASB exposure drafts are now available

AASB ED 167 and AASB ED 168 are now available.... Read more

3 Oct. 2008

AASB releases Amendments to AASB 1049 for Consistency with AASB 101

The AASB has released AASB 2008-9 Amendments to AASB 1049 for Consistency with AASB 101... Read more

3 Oct. 2008

AASB revolutionises the online search for pronouncements

The Australian Accounting Standards Board (AASB) has developed a revolutionary electronic solution, which enables users to identify and locate the accounting pronouncements relevant to their particular financial reporting period.... Read more

25 Sep. 2008

Minutes of the 27 August 2008 AASB meeting

The approved minutes of the 27 August 2008 AASB meeting (no. 90) are now available.

25 Sep. 2008

September 2008 Action Alert

The Action Alert from the 24 September 2008 Board meeting is now available.

22 Sep. 2008

The AASB has issued revised AASB 1039 Concise Financial Reports

The AASB has issued revised AASB 1039 Concise Financial Reports, which is applicable for annual reporting periods beginning on or after 1 January 2009. Early adoption is permitted.... Read more

22 Sep. 2008

AASB releases Amendments to Australian Accounting Standards - Eligible Hedged Items

The AASB has released AASB 2008-8 Amendments to Australian Accounting Standards - Eligible Hedged Items.... Read more

18 Sep. 2008

AASB meeting, 24 September 2008. Selected board papers available.

Selected board papers for AASB Meeting 24 September 2008 are now available .... Read more

11 Sep. 2008

Expressions of interest for vacancies on the AASB

The Financial Reporting Council (FRC) is seeking expressions of interest from people wishing to fill part-time vacancies on the Auditing and Assurance Standards Board (AUASB) and the Australian Accounting Standards Board (AASB) which will become available in 2008-09.... Read more

8 Sep. 2008

AASB ED 165 released

The AASB has released ED 165 Improvements to Australian Accounting Standards.... Read more

5 Sep. 2008

Two new Interpretations have been released

Interpretation 15 Agreements for the Construction of Real Estate and Interpretation 16 Hedges of a Net Investment in a Foreign Operation have been released.... Read more

3 Sep. 2008

AASB ED 166 released

The AASB has released ED 166 Simplifying Earnings per Share: Proposed Amendments to AASB 133.... Read more

29 Aug. 2008

Approved minutes of AASB meeting 89 (30-31 July 2008) are now available

Approved minutes of AASB meeting 89 (30-31 July 2008) are now available.... Read more

29 Aug. 2008

Action Alert: Board meeting held 27 August 2008

The Action Alert from the most recent Board meeting, 27 August 2008, is now available.... Read more

12 Aug. 2008

AASB submission to the IPSASB on Social Benefits

The AASB has made a submission to the IPSASB in relation to the Social Benefits project.... Read more

8 Aug. 2008

A report on the application to not-for-profit entities of the IASB/FASB conceptual framework project's exposure draft and discussion paper.

The AASB has issued a report on not-for-profit entity implications of the IASB's proposed changes to its conceptual framework in respect of private sector businesses. This report may help with preparing comments to the AASB and/or the IASB on ED 164 and ITC 17.... Read more

7 Aug. 2008

AASB 2008-7 released

AASB 2008-7 Amendments to Australian Accounting Standards – Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate has been released.... Read more

1 Aug. 2008

AASB 2008-5 and AASB 2008-6 released

AASB releases two Amending Standards. The amendments, made as part of the Australian Accounting Standards Annual Improvements Project, amend 26 standards.... Read more

24 Jul. 2008

AASB Roundtable on ITC 17

The AASB invites participation in a roundtable discussion, to be held in Melbourne on the 14th August 2008, on ITC 17, which considers issues related to ‘the reporting entity’.... Read more

3 Jul. 2008

Reminder: Comment period closing soon

Reminder: The comment periods are closing soon for some AASB exposure drafts... ... Read more

2 Jul. 2008

Website update: AASB issues ITC 17

AASB invites comment on ITC 17 Request for Comment on IASB Discussion Paper "Preliminary Views on an improved Conceptual Framework for Financial Reporting: The Reporting Entity".... Read more

6 Jun. 2008

Media release: AASB 2008-4 provides relief from duplication in financial reports

The AASB has released AASB 2008-4 Amendments to Australian Accounting Standard - Key Management Personnel Disclosures by Disclosing Entities, which amends AASB 124 Related Party Disclosures.... Read more