Details

Service: Audit, Financial Statement Audit, Accounting Advisory Services
Type: Regulatory update
Date: 8/08/2011

Reporting Updates

Reporting Updates (formerly known as Flash Reports) outline changes occurring within the Australian financial reporting environment.

11RU-013 Removal of Individual KMP disclosures but not until 2014

This Reporting Update announces the removal of individual Key Management Personnel (KMP) disclosures from financial statements for periods commencing on or after 1 July 2013.

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11RU-013 Removal of individual KMP disclosures but not until 2014 [PDF 64KB]

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Key points

Individual KMP disclosures will remain in Remuneration Reports of disclosing entities as these are required by section 300A of the Corporations Act 2001.
Managed Investment Schemes will be significant beneficiaries, unless the government imposes new requirements though the Corporations Act.

IFRS Briefing Sheets - International financial reporting updates

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