Not-for-Profit Financial Reporting Framework

This page provides links to the publications and outreach relevant to the AASB's consultation on the development of simplified accounting requirements for smaller not-for-profit private sector entities.

Accompany materials to the Discussion Paper

To accompany the consultation on the Discussion Paper — Development of Simplified Accounting Requirements (Tier 3 Not-for-Profit Private Sector Entities), the AASB has published:

A 12 page snapshot providing an overview of the Discussion Paper. Read the Snapshot here.
A recorded education session (53 mins) covering the aim of the Discussion Paper, an overview of the Board's preliminary Tier 3 accounting and disclosure requirements and the entities that may be affected by these proposals. Watch it here.
Slide Pack to the AASB Education Session can be found here.

To support the consultation, the AASB staff have updated Research Report 10 Legislative and Regulatory Financial Reporting Requirements to help with the identification of the entities with financial reporting obligations under Federal and State/Territory requirements that will or may be affected by the Board's proposals.

Research Report 10 Legislative and Regulatory Financial Reporting Requirements can be found here.

Responding to the Discussion Paper

Stakeholders can provide feedback to the questions in the Discussion Paper during the six months consultation period using any of the following methods:

An online survey to provide your feedback. Stakeholders are encouraged to read the Snapshot Document or listen to the recorded education session before completing the online survey.
Online survey: https://www.surveymonkey.com/r/AASBTIER3NFP
AASB will be hosting five virtual outreach events to consult with stakeholders on the proposed Tier 3 accounting requirements on some of the key topics in the Discussion Paper. Register your interest to attend by clicking the link to one of the sessions below:

Dates and Time	Zoom registration links
28 October 2022 [12:00pm – 1:00pm AEDT]	Click to access Zoom details
22 November 2022 [1:30pm – 2:30pm AEDT]	Click to access Zoom details
07 December 2022 [1:00pm – 2:00pm AEDT]	Click to access Zoom details
03 February 2023 [3:00pm – 4:00pm AEDT]	Click to access Zoom details
01 March 2023 [12:00pm – 1:00pm AEDT]	Click to access Zoom details

Please click here to download the agenda for the outreach events.
Written submission by lodging online via our 'Open for comment documents' page at: http://www.aasb.gov.au/current-projects/open-forcomment/
Email us your comments to [email protected]

Other Not-for-Profit related projects

The AASB is seeking feedback from stakeholders to assist its assessment of whether certain requirements of Australian Accounting Standards that apply to not-for-profit (NFP) public and private sector entities continue to meet their original objectives, including whether the requirements remain appropriate. The Post-implementation Reviews will cover:

AASB 1058 Income of Not-for-Profit Entities;
Appendix F of AASB 15 Revenue from Contracts with Customers;
Appendix E of AASB 10 Consolidated Financial Statements;
AASB 124 Related Party Disclosures by NFP public sector entities; and
AASB 1054 Australian Additional Disclosures requirements relating to special purpose financial statements.

Please click here for more information.