Comments sought on exposure drafts

At BDO, we provide comments locally to the Australian Accounting Standards Board (AASB) and internationally to the International Accounting Standards Board (IASB). We welcome any client comments on exposure drafts that are currently available for comment. If you would like to provide any comments please contact Aletta Boshoff at [email protected].



Comments due to AASB by

Comments due to IASB by

ED 281 Accounting Policies and Accounting Estimates

Proposed amendments to AASB 108

Proposes amendments to AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors to clarify the difference between a change in accounting policy and a change in accounting estimate.

Also clarifies that changing the cost formula for measuring inventories constitutes a change in accounting policy.

17 November 2017

15 January 2018

ED 282 Definition of Material

Proposed amendments to AASB 101 and AASB 108

Proposes minor amendments to AASB 101 and 108 to clarify the definition of ‘material’ and align the wording with the definition in the Conceptual Framework for Financial Reporting and the IASB Practice Statement Making Materiality Judgements

17 November 2017

15 January 2018

ITC 37 The AASB’s Standard-Setting Frameworks for For-Profit Entities and Not-for-Profit Entities

The ITC is seeking comment on the AASB’s draft standard-setting frameworks for for-profit and not-for-profit entities and in particular:

  • Whether the term ‘not-for-profit’ is helpful to understand the nature of the entities in that sector, and if not, what other terms are considered is more appropriate, and
  • If is there enough guidance about which entities are for-profit entities and not-for-profit entities.

17 January 2018


ITC Draft Appendix to the Tax Transparency Code

For entities voluntarily adopting the Tax Transparency Code (TTC), the ITC proposes a draft appendix to the TTC which includes disclosure aiming to increase the tax transparency of both large and medium-sized businesses, so as to enable users such as social justice groups, media, analysts, shareholders and the general public to better understand the entity’s tax position.

28 February 2018


DP Australian-specific Insurance Issues – Regulatory Disclosures and Public Sector Entities

Public sector entities


  • That the scope of AASB 17 Insurance Contracts be expanded to ‘insurance-like’ arrangements created by statute rather than contractual arrangements, and
  • Additional guidance for determining when an ‘insurance-like’ arrangement exists in Appendix E to AASB 17.

Regulatory disclosures for the for-profit private sector

Seeking comment on whether certain regulatory disclosures included in AASB 1023 General Insurance Contracts and AASB 1038 Life Insurance Contracts should not be carried forward into either AASB 17 or AASB 1054 Australian Additional Disclosures.

28 February 2018