Exposure Draft ED 315 Extending Transition Relief under AASB 1

Friday, November 26, 2021

ED 315 proposes transition relief to assist entities with the first-time preparation of general purpose financial statements (GPFS) in some circumstances.

This includes certain for-profit private sector entities that can no longer apply the reporting entity concept or prepare special purpose financial statements from 1 July 2021.

ED 315 proposes amendments to:

The amendments are proposed to apply to annual periods ending on or after 30 June 2022.

Please submit your comments to the AASB by 27 January 2022, via the AASB website or email.

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