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 Wayne Basford at

Document Proposals Comments due to AASB by Comments due to IASB by

ED 277 Reduced Disclosure Requirements for Tier 2 Entities


  • A new set of principles used to determine Tier 2 RDR disclosures
  • Updated RDR disclosures as a result of applying these updated principles, and
  • A new approach to presenting RDR disclosures – as an appendix rather than as ‘greyed out’ text in the body of the accounting standards.

No changes are proposed to the types of entities able to report using RDR.

26 May 2017


ED 278 Improvements to AASB 8 Operating Segments

Proposes various amendments to AASB 8 Operating Segments as part of the IASB’s post-implementation review of IFRS 8, including:

  • Clarifying the function of the chief operating decision maker (CODM)
  • Requiring disclosure of the title and role of the CODM
  • Requiring an explanation if segments differ between the financial statements and other parts of the annual reporting package
  • Adding examples of similar economic characteristics when assessing whether the aggregation criteria have been met
  • Clarifying that segment information in addition to that reviewed by, or regularly provided to,  the CODM can be disclosed if it meets the core principles
  • Clarifying that information on reconciling items must be given with sufficient detail to enable users to understand the nature of the reconciling items, and
  • Amending AASB 134 Interim Financial Reporting to require companies changing segments to provide restated segment information for all prior interim periods earlier than they currently do.

23 June 2017

31 July 2017

ED 279 Prepayment Features with Negative Compensation

Proposes to make narrow-scope amendments to AASB 9 Financial Instruments to allow instruments with symmetric prepayment options to be measured at amortised cost. The IASB is planning to issue the amendments in time for the mandatory effective date of IFRS 9 in January 2018.

17 May 2017

24 May 2017

ITC 35 Disclosure Initiative – Principles of Disclosure

In this next step in the IASB’s Disclosure Initiative project, this Discussion Paper seeks to establish clear principles governing what, how and where information should be disclosed in the financial statements. The proposals include:

  • Seven  principles of effective communication for entities preparing financial statements
  • Possible approaches to improve the disclosure objectives and requirements in IFRS Standards, and
  • Principles of fair presentation and disclosure of performance measures and non-IFRS information in financial statements, to ensure that such information is not misleading.

4 September 2017

2 October 2017