AASB 1054 Australian Additional Disclosures

Framework and compliance disclosures for all financial statements (paragraphs 7 to 9) – AASB 1054 Australian Additional Disclosures

AASB 1054 Australian Additional Disclosures 7: Make an explicit and unreserved statement of compliance with Australian Accounting Standards in the notes, and never claim compliance unless every requirement is met

What does 7 require?

An entity whose financial statements do comply with Australian Accounting Standards must say so in the notes in an explicit and unreserved statement. The converse is a prohibition: financial statements may not be called compliant with the Standards unless they satisfy every one of their requirements, so a qualified or partial statement of compliance is not permitted.

Maintained by Gerard Blokdyk

What else in your programme already covers this

This control maps to 2 controls across 2 other frameworks. If you already hold one of them, the evidence you collected for it is the starting point here rather than new work.

AASB 101 Presentation of Financial Statements · 1 control

15-17 Achieve fair presentation through compliance, and say so plainly

Australia Corporations Act 2001 (Cth) · 1 control

s295-297 ss 295 to 297 Financial report contents, accounting standards, true and fair view and directors' declaration

Every mapping shown was judged rather than inferred from wording similarity, and the ones that failed review are published too. See the coverage reports and what was rejected.

Other controls in Framework and compliance disclosures for all financial statements (paragraphs 7 to 9) – AASB 1054 Australian Additional Disclosures

Query this from an agent

The graph holds this control, the 2 it maps to, and the evidence behind each claim, over MCP and REST.

MCP endpoint All AASB 1054 Australian Additional Disclosures controls