A for-profit private sector entity may prepare special purpose financial statements under this paragraph only when a constitution or comparable document, dated before 1 July 2021 and unamended since, demands financial statements complying with Australian Accounting Standards. Its statements must disclose the basis for the special purpose decision; unless another Standard already requires it, which measurement basis or bases were used plus the other accounting policies relevant to understanding the statements; when a material accounting policy changes with an effect on the current or any prior period, the nature of the change, why the new policy gives reliable and more relevant information, the adjustment to each affected line item for the current period, each prior period presented and in aggregate for earlier periods so far as practicable, and an explanation where quantification is impracticable (not repeated in later periods); whether subsidiaries, associates and joint ventures are consolidated or equity accounted in line with AASB 10 and AASB 128 and, if not, why; for each material accounting policy that departs from the recognition and measurement requirements (leaving aside AASB 10 and AASB 128), how it departs; and whether the statements overall comply with those requirements. Paragraph 9D points to the implementation guidance and examples for these entities.
This control maps to 1 controls across 1 other frameworks. If you already hold one of them, the evidence you collected for it is the starting point here rather than new work.
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.
The graph holds this control, the 1 it maps to, and the evidence behind each claim, over MCP and REST.