AASB 1054 Australian Additional Disclosures
The Australian-only disclosures layered on IFRS: the explicit and unreserved compliance statement, the reporting framework and for-profit or not-for-profit status, general purpose versus special purpose statements and the disclosures special purpose statements must carry, auditor and network firm fees split between audit and other services, franking credits available, the direct-method operating cash flow reconciliation, and the disclosure about IFRS Standards the AASB has not yet issued, with the 2027 to 2029 AASB 2026-2 and 2026-4 changes noted on the affected leaves.
AASB 1054 Australian Additional Disclosures is a compliance framework from Australia (Commonwealth) with 3 domains and 10 controls that map to 5 other frameworks. The largest domains are Audit fees, imputation credits, operating cash flow reconciliation and IFRS not yet issued (paragraphs 10 to 17) – AASB 1054 Australian Additional Disclosures (5 controls), Framework and compliance disclosures for all financial statements (paragraphs 7 to 9) – AASB 1054 Australian Additional Disclosures (3 controls), Special purpose financial statement disclosures (paragraphs 9A to 9D) – AASB 1054 Australian Additional Disclosures (2 controls). Every control below carries what it requires and what an assessor expects to see.
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Framework Domains (3)
Audit fees, imputation credits, operating cash flow reconciliation and IFRS not yet issued (paragraphs 10 to 17) – AASB 1054 Australian Additional Disclosures
| Code | Title |
|---|---|
| aasb-1054-australian-additional-disclosures::10-11 | Disclose fees paid to each auditor or reviewer, including network firms, split between the audit or review of the financial statements and all other services, and describe the nature of the other services |
| aasb-1054-australian-additional-disclosures::12-14 | Disclose the amount of imputation (franking) credits available for use in later periods, determined with the specified adjustments and separated between Australian and New Zealand credits |
| aasb-1054-australian-additional-disclosures::15 | Where investor classes have different entitlements to imputation credits, disclose the nature of each class's entitlement |
| aasb-1054-australian-additional-disclosures::16 | When the direct method is used for the statement of cash flows, provide a reconciliation of net cash flow from operating activities to profit or loss |
| aasb-1054-australian-additional-disclosures::17 | When the IASB has issued an IFRS Standard that the AASB has not yet issued, an entity intending to comply with IFRS must give the AASB 108 paragraph 30 and 31 disclosures about it |
Framework and compliance disclosures for all financial statements (paragraphs 7 to 9) – AASB 1054 Australian Additional Disclosures
| Code | Title |
|---|---|
| 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 |
| aasb-1054-australian-additional-disclosures::8 | Disclose the statutory basis or other reporting framework under which the statements are prepared and whether the entity is for-profit or not-for-profit |
| aasb-1054-australian-additional-disclosures::9 | Disclose whether the financial statements are general purpose or special purpose financial statements |
Special purpose financial statement disclosures (paragraphs 9A to 9D) – AASB 1054 Australian Additional Disclosures
| Code | Title |
|---|---|
| aasb-1054-australian-additional-disclosures::9A | Not-for-profit private sector entities preparing special purpose financial statements must disclose the basis for that decision, the treatment of interests in other entities, each non-compliant material accounting policy and overall recognition and measurement compliance |
| aasb-1054-australian-additional-disclosures::9C | For-profit private sector entities still permitted to prepare special purpose financial statements must disclose the basis for that decision, their measurement bases and other relevant policies, changes in material policies, the treatment of interests in other entities, each non-compliant material policy and overall compliance |
Your Compliance Coverage
If you comply with AASB 1054 Australian Additional Disclosures, you already cover:
AASB 101 Presentation of Financial Statements
40%
4 controls mapped
Compare →Australia Corporations Act 2001 (Cth)
20%
2 controls mapped
Compare →AASB 107 Statement of Cash Flows
10%
1 controls mapped
Compare →+ 2 more: EU Accounting Directive (Directive 2013/34/EU) (10%), AASB 18 Presentation and Disclosure in Financial Statements (10%)
See all 5 mapped frameworks ↓Maps to 5 other frameworks
Coverage is not the same as your position
This page shows what AASB 1054 Australian Additional Disclosures overlaps with in general. Where your organisation actually stands, against the standard you are going for and the certifications you already hold, is a different question. Same graph and the same recorded refutations, scoped to you rather than to a pair.
The Compliance Position Diagnostic, $5,000 fixed, ten business daysWhat is AASB 1054 Australian Additional Disclosures and who does it apply to?
AASB 1054 Australian Additional Disclosures is a compliance framework from Australia (Commonwealth) with 3 domains and 10 controls. The Australian-only disclosures layered on IFRS: the explicit and unreserved compliance statement, the reporting framework and for-profit or not-for-profit status, general purpose versus special purpose statements and the disclosures special purpose statements must carry, auditor and network firm fees split between audit and other services, franking credits available, the direct-method operating cash flow reconciliation, and the disclosure about IFRS Standards the AASB has not yet issued, with the 2027 to 2029 AASB 2026-2 and 2026-4 changes noted on the affected leaves. It is used by organisations to establish and maintain compliance with industry standards and regulatory requirements.
What does AASB 1054 Australian Additional Disclosures actually require?
AASB 1054 Australian Additional Disclosures has 10 controls organised across 3 domains. The largest domains are Audit fees, imputation credits, operating cash flow reconciliation and IFRS not yet issued (paragraphs 10 to 17) – AASB 1054 Australian Additional Disclosures (5 controls), Framework and compliance disclosures for all financial statements (paragraphs 7 to 9) – AASB 1054 Australian Additional Disclosures (3 controls), Special purpose financial statement disclosures (paragraphs 9A to 9D) – AASB 1054 Australian Additional Disclosures (2 controls). Each control defines specific requirements that organisations must implement to achieve compliance.
If I already comply with another framework, how much of AASB 1054 Australian Additional Disclosures do I already cover?
AASB 1054 Australian Additional Disclosures maps to 5 other compliance frameworks. The top mapping partners are AASB 101 Presentation of Financial Statements (40% coverage), Australia Corporations Act 2001 (Cth) (20% coverage), AASB 107 Statement of Cash Flows (10% coverage). Use our comparison tool to explore control-level mappings between frameworks.
How do I implement AASB 1054 Australian Additional Disclosures?
Start your AASB 1054 Australian Additional Disclosures compliance journey by running a self-assessment on our platform to identify your current compliance posture. Our AI advisory can answer specific questions about AASB 1054 Australian Additional Disclosures requirements, and cross-framework mapping helps you leverage existing controls from other frameworks you may already comply with. Create a free account to access all 10 controls and track your progress.
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