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 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 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 N/A