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.

The AASB has published two Exposure Drafts:

• Exposure Draft ED 334 Limiting the Ability of Not-for-Profit Entities to Prepare Special Purpose Financial Statements
• Exposure Draft ED 335 General Purpose Financial Statements – Not-for-Profit Private Sector Tier 3 Entities;

for consultation with a comment period closing on 28 February 2025.

To accompany the consultation on these Exposure Drafts, the AASB has published:

• A webcast (1hr 51 mins) that provide an overview of the key proposals in ED 334 and ED 335. Please click here to download the slides to the webcast.
• A summary of the Tier 3 Exposure Draft proposals and the extent of simplification against Tier 2 reporting requirements.
• A key facts document that provides a high-level overview of the Exposure Drafts.

Stakeholders should refer to 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 may be affected by the Board's proposals.

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

Responding to the Exposure Drafts

Stakeholders can provide feedback to the questions in ED 334 and ED 335 during the four-month consultation period using any of the following methods:

• Submitting a comment letter on the AASB website by lodging online via our 'Open for comment documents' page here; or
• completing an online survey for: 
  • ED 334, click here to access; or
  • ED 335, click here to access.
• Email us your comments to [email protected].

Outreach locations and dates

AASB Staff held outreach sessions to obtain feedback from not-for-profit stakeholders on ED 334 and ED335.

Please click here to download the agenda for the outreach events.

Click here to see past events relating to this project.