Corporate Reporting Insights Blog

By Aletta Boshoff | 13 May 2022

Overview May 2022

Our May 2022 edition of Corporate Reporting Insights keeps you up-to-date with the latest Australian and global developments in corporate financial and sustainability reporting.


By Dean Ardern | 16 May 2022

Applying the General Measurement Model in IFRS 17 Insurance Contracts – the impacts of changes in assumptions on onerous contracts

In this month’s edition, we take a closer look at how contracts that are expected to be unprofitable when written (i.e., onerous on initial recognition) would be accounted for over time, particularly if the assumptions underlying the contracts change.


By Aletta Boshoff | 16 May 2022

AASB proposes guidance for determining fair values in the public sector (AASB 13)

In order to address the lack of consistency in applying fair value principles, the Australian Accounting Standards Board (AASB) recently issued Exposure Draft 320 Fair Value Measurement of Non-Financial Assets of Not-for-Profit Public Sector Entities (ED 320). ED 320 proposes...


By Aletta Boshoff | 13 May 2022

Comments sought on exposure drafts

May 2022 Comments sought on exposure drafts.


By Aletta Boshoff | 13 May 2022

IFRIC agenda decision - Demand deposits with contractual restrictions on use

At its April 2022 meeting, the Committee issued one final agenda decision about the presentation of demand deposits with contractual restrictions on use.


By Aletta Boshoff | 13 May 2022

How should not-for-profit entities account for non-refundable upfront fees?

There is diversity in the way that not-for-profit (NFP) entities account for non-refundable upfront fees – for example, joining fees for a club or enrolment fees at a school - in accordance with AASB 15 Revenue from Contracts with Customers. 


By Aletta Boshoff | 13 May 2022

EU’s proposed new Corporate Sustainability Reporting Directive could affect Australian entities

In April 2021, the European Commission proposed a new Corporate Sustainability Reporting Directive (CSRD). The purpose of the new CSRD is to revise and strengthen the existing requirements of the Non-Financial Reporting Directive (NFRD).


By Aletta Boshoff and Ashley Bleeker | 13 May 2022

AASB publishes Position Paper on extended external reporting

The Australian Accounting Standards Board (AASB) has recently published its Position Statement, which supports the voluntary adoption of recommendations made by the Task Force on Climate-related Financial Disclosures (TCFD).


By Aletta Boshoff | 13 May 2022

Sustainability at BDO

At BDO, we believe that we all have a role to play in protecting, preserving, and renewing our resources. This will help to ensure that the way we live our lives today, does not negatively impact future generations.


By Aletta Boshoff | 13 May 2022

More relief in AASB 1 for entities transitioning to general purpose Simplified Disclosures financial statements

The Australian Accounting Standards Board (AASB) has amended AASB 1 to ease the burden for entities transitioning to GPFS.


By Aletta Boshoff | 13 May 2022

Seven new training seminars available on IFRS Training Hub

Following the initial launch of our IFRS seminars and eLearning in March 2022, we highlight seven additional training seminars on our IFRS Training Hub: