Australian Government
Australian Accounting Standards Board
Wednesday, November 11, 2026
The AASB has completed its Post-Implementation Review (PIR) of the Tier 2 disclosures Standard and the Removal of Special Purpose Financial Statements for Certain For-Profit Private Sector Entities, concluding that the Standards are operating effectively and the objectives of the reforms are being achieved.
In September 2025, the AASB issued Invitation to Comment (ITC) 56 Post-implementation Review of Tier 2 and Removal of Special Purpose Financial Statements for Certain For-Profit Private Sector Entities and Further Update of Tier 2 to seek feedback on whether AASB 1060 and AASB 2020-2 are operating as intended and meeting their original objectives.
The Feedback Statement presents the findings of the PIR, summarises the key stakeholder feedback received and outlines the AASB’s decisions and rationale. Click here to access the Feedback Statement and related materials.