Welcome to the latest edition of our financial and corporate reporting publication that aims to keep you in the loop with all the latest accounting and financial reporting developments, and the potential impact they may have on your business.
Entities need to be rethinking their income statements in preparation for AASB 18, the new standard that will replace AASB 101 and see a significant change to the way entities report on financial performance. We kick off a series of articles dedicated to this new standard with an overview of the key changes and transition requirements.
We wrap up our carbon accounting focus with the third and final instalment that focuses on Scope 3 emissions and why these are so important to understand when it comes to taking steps to reducing emissions. With the assurance requirements over climate disclosures being finalised recently, we explore what this looks like for entities subject to the new mandatory climate reporting regime.
And finally, we touch on a some clarifications regarding tax residency disclosures in the consolidated entity disclosure statement and consider why NFPs are signalling their keen interest in sustainability for their purpose-driven organisations.
In this issue:
Financial Reporting
- A quick guide to AAB 18: Part 1 - An overview
Sustainability Reporting
- Carbon Accounting: A closer look at Scope 3 emissions
- Assurance over mandatory climate disclosures
Regulatory
- Clarifying tax residency disclosures in the consolidated entity disclosure statement
NFP Entities
- Why not for profits are embracing sustainability with purpose