The hot topic for this financial year appears to be the implications of the IFRS Interpretations Committee’s (IFRIC’s) agenda decision Configuration or Customisation Costs in a Cloud Computing
The standard AASB 16 Leases is now in its second year of operation for public sector entities.
When is a lease not a lease? When it does not meet the definition of a lease.
The key audit matters section of the Independent Auditor’s Report has been introduced.
The Australian Accounting Standards Board (AASB) is reviewing financial reporting requirements for the public sector.1, 2