SAC 3 and SAC 4 were effective until the first reporting period beginning on or after 1 January 2005, when the Framework for the Preparation and Presentation of Financial Statements (the Australian equivalent to the IASB’s Framework) first applied. SAC 2 was effective until periods ending on or after 20 December 2013. SAC 1 (1990) was effective until periods beginning on or after 1 January 2020.