Practice Statements

This table lists the Practice Statements that have been issued by the International Accounting Standards Board and the AASB.

These Practice Statements are not required to be complied with by entities preparing general purpose financial statements in accordance with Australian Accounting Standards or IFRS Standards.

For copyright reasons, these materials are available only to AASB website users in Australia. These materials must not be forwarded to anyone outside Australia; they can obtain these materials by subscription from the IASB.

Practice Statements

Title	Issue Date	Operative Date
Management Commentary (IFRS Practice Statement 1)	Dec 2010	8 Dec 2010
Making Materiality Judgements (AASB Practice Statement 2)	Dec 2022	1 Jan 2023

Amending Pronouncements (not yet fully compiled)

Title	Issue Date	Operative Date
AASB 2022-6 Amendments to Australian Accounting Standards – Non-current Liabilities with Covenants	Dec 2022	1 Jan 2024

Amending Pronouncements (fully compiled)

Title	Issue Date	Operative Date
AASB 2018-7 Amendments to Australian Accounting Standards - Definition of Material	Dec 2018	1 Jan 2020
AASB 2019-1 Amendments to Australian Accounting Standards - References to the Conceptual Framework	May 2019	1 Jan 2020
AASB 2021-2 Amendments to Australian Accounting Standards - Disclosure of Accounting Policies and Definition of Accounting Estimates	Mar 2021	1 Jan 2023
AASB 2021-7a Amendments to Australian Accounting Standards – Effective Date of Amendments to AASB 10 and AASB 128 and Editorial Corrections	Dec 2021	1 Jan 2022
AASB 2022-7 Editorial Corrections to Australian Accounting Standards and Repeal of Superseded and Redundant Standards	Dec 2022	1 Jan 2023