{ "entity_id": "O-000940", "folder": "Office-of-the-Australian-Accounting-Standards-Board", "name": "Office of the Australian Accounting Standards Board", "type": "Non-corporate Commonwealth Entity", "jurisdiction": "Commonwealth", "portfolio": "Treasury", "website": "http://www.aasb.gov.au", "data_status": "rich", "completeness": { "has_strategy_brief": true, "has_strategy_structured": true, "has_vision": false, "has_kpi_targets": true, "has_kpi_results": true, "has_strategy_overview": true, "has_legislation_text": true, "has_legislation_structured": true, "has_global_initiatives_text": true, "has_ideas": true, "has_artifacts": true, "n_ideas": 8, "n_legislation": 3, "n_artifacts": 14, "n_kpi_targets": 10, "n_kpi_results": 10, "n_outcomes": 3, "verified_own_data": true }, "strategy_profile": { "status": "published", "confidence": "high", "summary": "Contribute to stakeholder confidence in:\n• the Australian economy, including its capital markets,\n• external reporting\n• enhanced credibility of external reporting through independent auditing and assurance by:\nAASB AUASB\nDeveloping, issuing and maintaining principles-based, Australian accounting and external reporting standards that aid in reducing the cost of capital and guidance that meet user and enable Australian entities to compete effectively, both domestically and internationally, by enhancing audit and assurance consistency and quality.\nContributing to the development of a single set of auditing and external reporting standards for world-wide use.", "official_site_url": "http://www.aasb.gov.au", "source_documents": [ { "type": "corporate_plan", "title": "Corporate Plan 2025-26", "url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "period": "2025-26", "confidence": "high" }, { "type": "corporate_plan", "title": "Corporate Plan 2024-25", "url": "http://www.aasb.gov.au/media/iszdgoex/aasb-auasb_corporateplan2024-25.pdf", "period": "2024-25", "confidence": "high" }, { "type": "corporate_plan", "title": "Corporate Plan 2023-24", "url": "http://www.aasb.gov.au/media/ji1ixwgp/aasb-auasb_corporateplan2023-24_22082024.pdf", "period": "2023-24", "confidence": "high" }, { "type": "corporate_plan", "title": "Corporate Plan 2022-23", "url": "http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf", "period": "2022-23", "confidence": "high" }, { "type": "corporate_plan", "title": "Corporate Plan 2021- 22", "url": "http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf", "period": "2021-22", "confidence": "high" }, { "type": "strategie", "title": "AASB Strategy 2025-26", "url": "http://www.aasb.gov.au/media/qdglztqv/aasb-auasb_strategy2025-26.pdf", "period": "2025-26", "confidence": "medium" }, { "type": "strategie", "title": "AASB Strategy, 2024-25", "url": "http://www.aasb.gov.au/media/1ksfawrj/aasb-auasb_strategy2024-25.pdf", "period": "2024-25", "confidence": "medium" }, { "type": "strategie", "title": "AASB Strategy, 2022-23", "url": "http://www.aasb.gov.au/media/whbjunq0/aasb-auasb_strategy2022-23.pdf", "period": "2022-23", "confidence": "medium" }, { "type": "strategie", "title": "FAQs: AASB Strategy", "url": "http://www.aasb.gov.au/admin/file/content102/c3/AASB_AUASB_Strategy_2017-2021_FAQs.pdf", "period": "2017", "confidence": "medium" } ], "purpose": { "text": "Contribute to stakeholder confidence in:\n• the Australian economy, including its capital markets,\n• external reporting\n• enhanced credibility of external reporting through independent auditing and assurance by:\nAASB AUASB\nDeveloping, issuing and maintaining principles-based, Australian accounting and external reporting standards that aid in reducing the cost of capital and guidance that meet user and enable Australian entities to compete effectively, both domestically and internationally, by enhancing audit and assurance consistency and quality.\nContributing to the development of a single set of auditing and external reporting standards for world-wide use.", "source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "source_page": 13, "source_deep_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=13" }, "vision": null, "strategic_priorities": [ { "title": "Develop, issue and maintain principles-based, Australian accounting and reporting standards and guidance that meet the n", "description": "Develop, issue and maintain principles-based, Australian accounting and reporting standards and guidance that meet the needs of external report users (including financial reports) and are capable of being assured and enforced. For ‘publicly accountable’ entities maintain IFRS compliance; for others, use IFRS Standards (where they exist), and transaction neutrality (modified as necessary), or develop Australian-specific standards and guidance.", "source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "source_page": 14, "source_deep_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14" }, { "title": "Play a leading role in the reshaping of the Australian external reporting environment by working with standard setters a", "description": "Play a leading role in the reshaping of the Australian external reporting environment by working with standard setters and regulators to set requirements proportionate to user needs and costs to preparers.", "source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "source_page": 14, "source_deep_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14" }, { "title": "Actively influence IASB, IPSASB standards and other international accounting and external reporting standards and guidan", "description": "Actively influence IASB, IPSASB standards and other international accounting and external reporting standards and guidance, by demonstrating thought leadership and enhancing key international relationships.", "source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "source_page": 14, "source_deep_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14" }, { "title": "Attain significant levels of key stakeholder engagement, through collaboration, partnerships and outreach.", "description": "Attain significant levels of key stakeholder engagement, through collaboration, partnerships and outreach.", "source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "source_page": 14, "source_deep_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14" }, { "title": "Influence initiatives to develop standards and guidance that meet user needs for external reporting integral to financia", "description": "Influence initiatives to develop standards and guidance that meet user needs for external reporting integral to financial reporting.", "source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "source_page": 14, "source_deep_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14" }, { "title": "Monitor and respond to, or lead on, emerging issues impacting the development of accounting and external reporting stand", "description": "Monitor and respond to, or lead on, emerging issues impacting the development of accounting and external reporting standards, including changing technologies.", "source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "source_page": 14, "source_deep_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14" }, { "title": "Develop guidance and education initiatives, or promote development by others, to enhance the consistent application of a", "description": "Develop guidance and education initiatives, or promote development by others, to enhance the consistent application of accounting and external reporting standards and guidance.", "source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "source_page": 14, "source_deep_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14" } ], "values": [ { "name": "Transparency", "description": "", "source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "source_page": null }, { "name": "Comparability", "description": "", "source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "source_page": null }, { "name": "Accountability", "description": "", "source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "source_page": null }, { "name": "Reliability", "description": "", "source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "source_page": null }, { "name": "Competence", "description": "", "source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "source_page": null }, { "name": "Integrity", "description": "", "source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "source_page": null } ], "outcomes": [ { "name": "PBS Outcome 1: Build and maintain strong international relationships with the IAASB and likeminded National and Global Auditing Standards Setters (“NSS”) on common global and other projects relevant to the AUASB work program.", "description": "Collaborate with the IAASB and likeminded National and Global Auditing Standards Setters (“NSS”) on common global and other projects relevant to the AUASB work program.", "activities": [ "Collaborate with the IAASB and likeminded National and Global Auditing Standards Setters (“NSS”) on common global and other projects relevant to the AUASB work program." ], "source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "source_page": 47, "source_deep_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47" }, { "name": "PBS Outcome 2: Adopt international assurance standards, supplemented by local guidance", "description": "Develop and maintain assurance standards responsive to market needs and reporting developments and consistent with international standards", "activities": [ "Develop and maintain assurance standards responsive to market needs and reporting developments and consistent with international standards", "Influence international standards and guidance", "Develop and maintain guidance and education materials to support implementation under the local reporting framework" ], "source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "source_page": 48, "source_deep_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=48" }, { "name": "PBS Outcome 3: Support the development and publishing of relevant and high-quality auditing and assurance evidence-based research in accordance with the AUASB Evidence Informed Standard (EISS) Strategy", "description": "Promote research opportunities in strategic priority areas through academic networks and conferences in accordance with the EISS strategy. Encourage broader participation from, academic community", "activities": [ "Promote research opportunities in strategic priority areas through academic networks and conferences in accordance with the EISS strategy", "Encourage broader participation from, academic community" ], "source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "source_page": 49, "source_deep_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=49" } ], "performance_measures": [ { "code": "CCE01", "measure": "Stability or improvement", "target": "Stability or improvement", "latest_result": "Target met", "status": "Achieved", "target_source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "target_source_page": 47, "result_source_url": "", "result_source_page": 50 }, { "code": "CCE02", "measure": "Stability or improvement", "target": "Stability or improvement", "latest_result": "Target met", "status": "Achieved", "target_source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "target_source_page": 47, "result_source_url": "", "result_source_page": 50 }, { "code": "CCE03", "measure": "Stability or improvement", "target": "Stability or improvement", "latest_result": "Target met", "status": "Achieved", "target_source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "target_source_page": 47, "result_source_url": "", "result_source_page": 50 }, { "code": "CCE04", "measure": "Stability or improvement", "target": "Stability or improvement", "latest_result": "Target met", "status": "Achieved", "target_source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "target_source_page": 47, "result_source_url": "", "result_source_page": 50 }, { "code": "CCE05", "measure": "Stability or improvement", "target": "Stability or improvement", "latest_result": "Target met", "status": "Achieved", "target_source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "target_source_page": 47, "result_source_url": "", "result_source_page": 50 }, { "code": "CCE06", "measure": "Stability or improvement", "target": "Stability or improvement", "latest_result": "Target met", "status": "Achieved", "target_source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "target_source_page": 47, "result_source_url": "", "result_source_page": 50 }, { "code": "CCE07", "measure": "Stability or improvement", "target": "Stability or improvement", "latest_result": "Target met", "status": "Achieved", "target_source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "target_source_page": 47, "result_source_url": "", "result_source_page": 50 }, { "code": "CCE08", "measure": "Stability or improvement", "target": "Stability or improvement", "latest_result": "Target met", "status": "Achieved", "target_source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "target_source_page": 47, "result_source_url": "", "result_source_page": 50 }, { "code": "CCE09", "measure": "Stability or improvement", "target": "Stability or improvement", "latest_result": "Target met", "status": "Achieved", "target_source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "target_source_page": 47, "result_source_url": "", "result_source_page": 50 }, { "code": "CCE10", "measure": "Stability or improvement", "target": "Stability or improvement", "latest_result": "Target met", "status": "Achieved", "target_source_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "target_source_page": 47, "result_source_url": "", "result_source_page": 50 } ], "document_alignment_terms": { "must_support": [ "Contribute to stakeholder confidence in:\n• the Australian economy, including its capital markets,\n• external reporting\n• enhanced credibility of external reporting through independ", "Develop, issue and maintain principles-based, Australian accounting and reporting standards and guidance that meet the needs of external report users (including financial reports) and are capable of being assured and enforced. For ‘publicly accountable’ entities maintain IFRS compliance; for others, use IFRS Standards (where they exist), and transaction neutrality (modified as necessary), or develop Australian-specific standards and guidance.", "Play a leading role in the reshaping of the Australian external reporting environment by working with standard setters and regulators to set requirements proportionate to user needs and costs to preparers.", "Actively influence IASB, IPSASB standards and other international accounting and external reporting standards and guidance, by demonstrating thought leadership and enhancing key international relationships.", "Attain significant levels of key stakeholder engagement, through collaboration, partnerships and outreach.", "Influence initiatives to develop standards and guidance that meet user needs for external reporting integral to financial reporting.", "Monitor and respond to, or lead on, emerging issues impacting the development of accounting and external reporting standards, including changing technologies.", "Develop guidance and education initiatives, or promote development by others, to enhance the consistent application of accounting and external reporting standards and guidance." ], "watch_terms": [ "Stability or improvement", "Stability or improvement", "Stability or improvement", "Stability or improvement", "Stability or improvement", "Stability or improvement", "Stability or improvement", "Stability or improvement", "Stability or improvement", "Stability or improvement" ], "avoid_claiming_without_evidence": [] }, "review_note": "" }, "strategy_brief_md": "# Office of the Australian Accounting Standards Board — Strategy Brief\n\n**Reporting period**: 2024-25\n**Corporate plan in force**: 2025-26\n**Corporate Plan**: [2025-26](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf)\n\n## Our purpose / purposes\n\n> Contribute to stakeholder confidence in:\n• the Australian economy, including its capital markets,\n• external reporting\n• enhanced credibility of external reporting through independent auditing and assurance by:\nAASB AUASB\nDeveloping, issuing and maintaining principles-based, Australian accounting and external reporting standards that aid in reducing the cost of capital and guidance that meet user and enable Australian entities to compete effectively, both domestically and internationally, by enhancing audit and assurance consistency and quality.\nContributing to the development of a single set of auditing and external reporting standards for world-wide use. [[CP p.13](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=13)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=13)]\n\n## How we deliver\n\n> The Boards comply with The Australian Government Guide to Regulation when assessing the regulatory effects of significant changes. The AASB and AUASB use their Due Process and Evidence Informed Frameworks to ensure the quality of their standards and that the benefits of its standards outweigh the costs to its constituents. [[CP p.20](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=20)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=20)]\n\n## Government priorities for this department\n\n- Develop, issue and maintain principles-based, Australian accounting and reporting standards and guidance that meet the needs of external report users (including financial reports) and are capable of being assured and enforced. For ‘publicly accountable’ entities maintain IFRS compliance; for others, use IFRS Standards (where they exist), and transaction neutrality (modified as necessary), or develop Australian-specific standards and guidance. [[CP p.14](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14)]\n- Play a leading role in the reshaping of the Australian external reporting environment by working with standard setters and regulators to set requirements proportionate to user needs and costs to preparers. [[CP p.14](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14)]\n- Actively influence IASB, IPSASB standards and other international accounting and external reporting standards and guidance, by demonstrating thought leadership and enhancing key international relationships. [[CP p.14](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14)]\n- Attain significant levels of key stakeholder engagement, through collaboration, partnerships and outreach. [[CP p.14](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14)]\n- Influence initiatives to develop standards and guidance that meet user needs for external reporting integral to financial reporting. [[CP p.14](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14)]\n- Monitor and respond to, or lead on, emerging issues impacting the development of accounting and external reporting standards, including changing technologies. [[CP p.14](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14)]\n- Develop guidance and education initiatives, or promote development by others, to enhance the consistent application of accounting and external reporting standards and guidance. [[CP p.14](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=14)]\n\n## Outcomes\n\n### PBS Outcome 1: Build and maintain strong international relationships with the IAASB and likeminded National and Global Auditing Standards Setters (“NSS”) on common global and other projects relevant to the AUASB work program.\nCollaborate with the IAASB and likeminded National and Global Auditing Standards Setters (“NSS”) on common global and other projects relevant to the AUASB work program. [[CP p.47](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47)]\n\n**Key activities:**\n- Collaborate with the IAASB and likeminded National and Global Auditing Standards Setters (“NSS”) on common global and other projects relevant to the AUASB work program.\n\n### PBS Outcome 2: Adopt international assurance standards, supplemented by local guidance\nDevelop and maintain assurance standards responsive to market needs and reporting developments and consistent with international standards [[CP p.48](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=48)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=48)]\n\n**Key activities:**\n- Develop and maintain assurance standards responsive to market needs and reporting developments and consistent with international standards\n- Influence international standards and guidance\n- Develop and maintain guidance and education materials to support implementation under the local reporting framework\n\n### PBS Outcome 3: Support the development and publishing of relevant and high-quality auditing and assurance evidence-based research in accordance with the AUASB Evidence Informed Standard (EISS) Strategy\nPromote research opportunities in strategic priority areas through academic networks and conferences in accordance with the EISS strategy. Encourage broader participation from, academic community [[CP p.49](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=49)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=49)]\n\n**Key activities:**\n- Promote research opportunities in strategic priority areas through academic networks and conferences in accordance with the EISS strategy\n- Encourage broader participation from, academic community\n\n## Values and principles\n\n_APS Values_\n\n- Transparency\n- Comparability\n- Accountability\n- Reliability\n- Competence\n- Integrity\n\n## What they will measure themselves on this year (targets from 2025-26 corporate plan)\n\n| Code | Measure | Target | Source |\n|---|---|---|---|\n| CCE01 | Stability or improvement | Stability or improvement | [CP p.47](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47) |\n| CCE02 | Stability or improvement | Stability or improvement | [CP p.47](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47) |\n| CCE03 | Stability or improvement | Stability or improvement | [CP p.47](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47) |\n| CCE04 | Stability or improvement | Stability or improvement | [CP p.47](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47) |\n| CCE05 | Stability or improvement | Stability or improvement | [CP p.47](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47) |\n| CCE06 | Stability or improvement | Stability or improvement | [CP p.47](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47) |\n| CCE07 | Stability or improvement | Stability or improvement | [CP p.47](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47) |\n| CCE08 | Stability or improvement | Stability or improvement | [CP p.47](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47) |\n| CCE09 | Stability or improvement | Stability or improvement | [CP p.47](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47) |\n| CCE10 | Stability or improvement | Stability or improvement | [CP p.47](http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47)(http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf#page=47) |\n\n## How they performed last year (results from 2024-25 annual report)\n\n| Code | Measure | Result | Status | Source |\n|---|---|---|---|---|\n| CCE01 | Stability or improvement | Target met | Achieved | AR p.50 |\n| CCE02 | Stability or improvement | Target met | Achieved | AR p.50 |\n| CCE03 | Stability or improvement | Target met | Achieved | AR p.50 |\n| CCE04 | Stability or improvement | Target met | Achieved | AR p.50 |\n| CCE05 | Stability or improvement | Target met | Achieved | AR p.50 |\n| CCE06 | Stability or improvement | Target met | Achieved | AR p.50 |\n| CCE07 | Stability or improvement | Target met | Achieved | AR p.50 |\n| CCE08 | Stability or improvement | Target met | Achieved | AR p.50 |\n| CCE09 | Stability or improvement | Target met | Achieved | AR p.50 |\n| CCE10 | Stability or improvement | Target met | Achieved | AR p.50 |", "strategy_overview_evidence_md": null, "internal_strategy_evidence_md": "# Office of the Australian Accounting Standards Board - Strategy, Performance, and Operating Profile\n\n**Generated at**: 2026-05-09T21:49:46.887766+00:00\n**Entity ID**: O-000940\n**Entity type**: Non-corporate Commonwealth Entity\n**Jurisdiction**: Commonwealth\n**Portfolio**: Treasury\n**Website**: http://www.aasb.gov.au\n\n> Draft generated from scraped source material. Treat this as an evidence pack for editorial review, not a final judgement.\n\n## Source Coverage\n\n| Source type | Count |\n|---|---:|\n| corporate-plans | 5 |\n| global-intelligence | 4 |\n| other-pdfs | 5 |\n| pages | 31 |\n| strategies | 4 |\n\n## Executive Readout\n\n### Purpose\n\n- [Page 2]\nContents\nPreface 3\nIntroduction 4\nAccountable authority approval 4\nThe purpose of the AASB and AUASB 7\nObjectives for accounting and auditing and assurance standard setting in Australia 8\nFunctions 8\nEnvironment 9\nThe Australian Reporting Framework 9\nSetting standards in the global economy 18\nRegulatory 21\nRisk oversight and management 22\nPerformance: achieving our strategy 25\nVision, mission and strategy 25\nActivities mapped to strategy and KPIs for measuring success 25\nCapability: Strategic enablers 26\nPage 2 of 39\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- Link to strategy Year\n(Impact) What do we need to do? (Objectives) Measures of success outputs & outcomes\n21 22 23 24\nPBS Outcome 1 Seek feedback on proposed changes X X X X ▪ Publish and address findings from AUASB Consultation\nPBS Programs 1 to assurance requirements to ensure Paper on the Audits of Less Complex Entities (LCEs),\nPBS Deliverable 2 they are fit for the intended purpose including feedback to IAASB on proposed LCE standard\nPBS Performance and support changes to the external ▪ Engage with AASB and relevant stakeholders to determine\nCriteria 2, 3, 5 & 6 reporting framework assurance issues related to changes to the external reporting\nframework and support AASB project to define appropriate\nPage 33 of 39\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- Link to strategy Year\n(Impact) What do we need to do? (Objectives) Measures of success outputs & outcomes\n22 23 24 25\nPBS Outcome 1 Seek feedback on proposed changes X X X X ▪ Engage with AASB and relevant stakeholders to determine\nPBS Programs 1 to assurance requirements to ensure assurance issues related to changes to the external reporting\nPBS Deliverable 2 they are fit for the intended purpose framework\nPBS Performance and support changes to the external ▪ Work with the AASB to conduct outreach and develop\nCriteria 2, 3, 5 & 6 reporting framework appropriate guidance materials on any changes to assurance\nrequirements relating to changes to the external reporting\nframework\nSupport initiatives that promote X X X X ▪ Share and collaborate with the AASB on common areas of\nconsistency and understanding of the focus for Reporting and Assurance Frameworks, including\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n- Link to strategy Year\n(Impact) What do we need to do? (Objectives) Measures of success outputs & outcomes\n23 24 25 26\nPBS Outcome 1 Seek feedback on proposed changes X X X X ▪ Engage with AASB and relevant stakeholders to determine\nPBS Programs 1 to assurance requirements to ensure assurance issues related to changes to the external reporting\nPBS Deliverable 2 they are fit for the intended purpose framework\nPBS Performance and support the implementation of ▪ Work with The Treasury and the AASB to conduct outreach\nCriteria 2, 3, 5 & 6 sustainability reporting in Australia and develop appropriate guidance materials on any changes\nto assurance requirements relating to the implementation of\nSustainability related reporting requirements in Australia.\n Source: `corporate-plans/2023-24.pdf (http://www.aasb.gov.au/media/ji1ixwgp/aasb-auasb_corporateplan2023-24_22082024.pdf)`\n\n### Role and Functions\n\n- [Page 2]\nContents\nPreface 3\nIntroduction 4\nAccountable authority approval 4\nThe purpose of the AASB and AUASB 7\nObjectives for accounting and auditing and assurance standard setting in Australia 8\nFunctions 8\nEnvironment 9\nThe Australian Reporting Framework 9\nSetting standards in the global economy 18\nRegulatory 21\nRisk oversight and management 22\nPerformance: achieving our strategy 25\nVision, mission and strategy 25\nActivities mapped to strategy and KPIs for measuring success 25\nCapability: Strategic enablers 26\nPage 2 of 39\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [pages 30,31,32,33]\nrmance criteria are aligned to the AASB’s and the AUASB’s Portfolio Budget\nStatements (‘PBS’) for 2022-2023.\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n- [pages 28,29,30,31]\nstandards\n• Perceived or actual loss of independence of the Submissions and presentations to public enquiries when\nBoard and ability to act in the public interest requested (e.g., Joint Parliamentary Inquiry into the\nRegulation of auditing in Australia.)\nMultiple other regulators • Accounting and auditing standards: • Regular liaison with other key regulators\nrequiring and/or enforcing o required inappropriately • Collaboration with other regulators when developing\naccounting and auditing o not enforced appropriately standards\nstandards. • Stakeholders not understanding AASB and AUASB • Working with regulators and practitioners to develop\nresponsibilities guidance in response to inspection review findings\n• Brand and reputation issues as standards not seen\nas fit for purpose\nPage 28 of 47\n Source: `corporate-plans/2023-24.pdf (http://www.aasb.gov.au/media/ji1ixwgp/aasb-auasb_corporateplan2023-24_22082024.pdf)`\n- [pages 31,32,33,34]\naligned to the AASB’s and the AUASB’s Portfolio\nBudget Statements (‘PBS’) for 2023-2024.\n Source: `corporate-plans/2023-24.pdf (http://www.aasb.gov.au/media/ji1ixwgp/aasb-auasb_corporateplan2023-24_22082024.pdf)`\n- [pages 14,15,16,17,18,19,20]\nion of the Offices of the AASB and\nthe AUASB, which are the responsibility of the respective Chairs.\n Source: `corporate-plans/2023-24.pdf (http://www.aasb.gov.au/media/ji1ixwgp/aasb-auasb_corporateplan2023-24_22082024.pdf)`\n- [Page 4]\nIntroduction\nAs agreed with the Department of Finance, the 2021-22 Corporate Plans for the Australian Accounting\nStandards Board (AASB) and Auditing and Assurance Standards Board (AUASB) have been prepared as\na single document, with the specific purpose and significant activities of each Board separately presented\nwhere required by Subsection 35(1) of the Public Governance, Performance and Accountability Act 2013.\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n\n### Strategic Priorities\n\n- Link to strategy Year\n(Impact) What do we need to do? (Objectives) Measures of success outputs & outcomes\n21 22 23 24\nPBS Outcome 1 Develop thought leadership and X X X X ▪ Project plans developed and 2021-22 outputs identified for\nPBS Program 1 implement strategic projects to improve each strategic priority area\nPBS Deliverable 5 auditing and assurance practice in ▪ Develop and implement outreach and engagement plans with\nPBS Performance priority areas such as Extended subject matter experts and key stakeholders for each\nCriteria 3, 4, 5, 6 & 7 External Reporting (EER), Audits of strategic thought leadership project area\nLess Complex Entities (LCEs) and the ▪ Regular updates provided to AUASB members at AUASB\nuse of Technology in the Audit meetings\n▪ AUASB board members or staff to publish articles or\npublications on selected strategic thought leadership project\nareas\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n22 23 24 25\nPBS Outcome 1 With the FRC, devise and complete X X X X ▪ Contribute to the development of the FRC Audit Quality Plan\nPBS Program 1 activities to implement the FRC’s Audit and deliver all AUASB Audit Quality activities as required\nPBS Deliverable 7 Quality Action Plan and contribute to ▪ AUASB staff to develop auditing and assurance related papers\nPBS Performance improved audit quality outcomes in the for FRC meetings\nCriteria 3, 5 & 6 Australian auditing environment\nWork with ASIC, the AASB, practitioners X X X X ▪ Undertake consultation with ASIC and practitioners to identify\nand other stakeholders to identify and improvements needed to auditing standards and develop\naddress significant inspection findings relevant guidance materials addressing common inspection\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n23 24 25 26\nPBS Outcome 1 With the FRC, devise and complete X X X X ▪ Contribute to FRC Audit Quality initiatives and deliver all\nPBS Program 1 activities to implement the FRC’s Audit AUASB Audit Quality activities as required\nPBS Deliverable 7 Quality Action Plan and contribute to ▪ AUASB staff to develop auditing and assurance related papers\nPBS Performance improved audit quality outcomes in the for FRC meetings\nCriteria 3, 5 & 6 Australian auditing environment\nWork with regulators, the AASB, X X X X ▪ Undertake consultation with regulators and practitioners to\npractitioners and other stakeholders to identify improvements needed to auditing standards and\nidentify and provide appropriate develop relevant guidance materials\n Source: `corporate-plans/2023-24.pdf (http://www.aasb.gov.au/media/ji1ixwgp/aasb-auasb_corporateplan2023-24_22082024.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n24 25 26 27\nPBS Outcome 1 Contribute to improved audit quality X X X X ▪ AUASB staff to develop relevant auditing and assurance\nPBS Program 1 outcomes in the Australian auditing related papers for FRC meetings\nPBS Deliverable 7 environment\nPBS Performance Work with regulators, the AASB, X X X X ▪ Undertake consultation with regulators and practitioners to\nCriteria 3, 5 & 6 practitioners and other stakeholders to identify improvements needed to auditing standards and\nidentify and provide appropriate develop relevant guidance materials\nguidance on significant areas identified ▪ Monitor and respond to recommendations arising from\nfor clarification or education in Parliamentary Inquiries, Treasury Consultation or other external\n Source: `corporate-plans/2024-25.pdf (http://www.aasb.gov.au/media/iszdgoex/aasb-auasb_corporateplan2024-25.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n25 26 27 28\nPBS Outcome 1 Adopt international assurance standards, X X X X  Develop and maintain assurance standards responsive to\nPBS Program 1 supplemented by local guidance market needs and reporting developments and consistent with\nPBS Deliverable 7 international standards\nPBS Performance  Influence international standards and guidance\nCriteria 3, 5 & 6  Develop and maintain guidance and education materials to\nsupport implementation under the local reporting framework\nMaintain the requirements for phasing in X X X X  Monitor and assess market, legal and regulatory developments\nof limited and reasonable assurance for  Liaise with stakeholders to identify any factors affecting the\nreporting under the Act. adoption and implementation of assurance, including guidance,\n Source: `corporate-plans/2025-26.pdf (http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf)`\n- [pages 27,28,29,30]\nitive stakeholder feedback on education initiatives\nStrategic Priority 2 - Performance Activity Focus: Stakeholder Engagement\nLink to strategy Year\nWhat do we need to do? (Objectives) (Measures of success outputs & outcomes)\n(Impact)\n21 22 23 24\nStrategy 4 E nhance stakeholder engagement X X X X ▪ Key stakeholders identified by 30 June 2020 and planned\nPBS Outcome 1 program of engagement executed as planned\nProgram 1 ▪ Positive stakeholder feedback on the consultation process\nDeliverables 12,13 ▪ Increase in engagement results (newsletter, website, LinkedIn,\nKPIs 3,5 Twitter, webinar, outreach numbers)\nStrategy 4 Conduct Agenda consultations to X X ▪ Agenda consultation conducted every 3-5 years\nPBS Outcome 1 determine projects and priorities\nProgram 1\nDeliverables 15\nKPIs 5,\nPage 27 of 39\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [Page 33]\nStrategic Priority 2 - Performance Activity Focus: Stakeholder Engagement\nLink to strategy Year\nWhat do we need to do? (Objectives) (Measures of success outputs & outcomes)\n(Impact)\n22 23 24 25\nStrategy 4 E nhance stakeholder engagement X X X X ▪ Maintain relationships with key stakeholders and planned\nPBS Outcome 1 program of engagement executed as planned\nProgram 1 ▪ Positive stakeholder feedback on the consultation process\nDeliverables 12,13 ▪ Increase in engagement results (newsletter, website,\nKPIs 3,5 LinkedIn, Twitter, webinar, outreach numbers)\nStrategy 4 Conduct Agenda consultations to determine X ▪ Agenda consultation conducted at least every 5 years\nPBS Outcome 1 projects and priorities\nProgram 1\nDeliverables 15\nKPIs 5,\nStrategic Priority 3 - Performance Activity Focus: People & Culture\nLink to strategy Year\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n- Program 1 experience and engagement ▪ Development of new standards portal to improve user access\nDeliverables 12, by 30 June 2023\nKPIs 5,\nStrategic Priority 5 - Performance Activity Focus: Operational & Business\nExcellence\nLink to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n22 23 24 25\nStrategies 1-7 Refresh strategy supporting operational X X X X ▪ Regularly revisit current strategy to determine impact of\nPBS Outcome 1 excellence and regulatory compliance implementation.\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n- Link to strategy Year\n(Impact) What do we need to do? (Objectives) Measures of success outputs & outcomes\n22 23 24 25\nPBS Outcome 1 Develop thought leadership and X X X X ▪ Project plans are developed with key outputs identified for\nPBS Program 1 implement strategic projects to each AUASB strategic priority area (including outreach\nPBS Deliverable 5 improve auditing and assurance plans with subject matter experts and key stakeholders\nPBS Performance practice in priority areas such as ▪ AUASB board members or staff to publish or contribute to\nCriteria 3, 4, 5, 6 & 7 Extended External Reporting (EER), articles or publications on selected strategic thought\nAudits of Less Complex Entities leadership project areas\n(LCEs) and the use of Technology in\nthe Audit\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n- [Page 34]\nStrategic Priority 2 - Performance Activity Focus: Stakeholder Engagement\nLink to strategy Year\nWhat do we need to do? (Objectives) (Measures of success outputs & outcomes)\n(Impact)\n23 24 25 26\nStrategy 4 E nhance stakeholder engagement X X X X ▪ Maintain relationships with key stakeholders and planned\nPBS Outcome 1 program of engagement executed as planned\nProgram 1 ▪ Positive stakeholder feedback on the consultation process\nDeliverables 12,13 ▪ Increase in engagement results (newsletter, website,\nKPIs 3,5 LinkedIn, Twitter, webinar, outreach numbers)\nStrategy 4 Conduct Agenda consultations to determine X ▪ Agenda consultation conducted at least every 5 years\nPBS Outcome 1 projects and priorities\nProgram 1\nDeliverables 15\nKPIs 5,\nStrategic Priority 3 - Performance Activity Focus: People & Culture\nLink to strategy Year\n Source: `corporate-plans/2023-24.pdf (http://www.aasb.gov.au/media/ji1ixwgp/aasb-auasb_corporateplan2023-24_22082024.pdf)`\n\n## KPIs, Targets, and Where They Are At\n\n- The\nentity should measure the rebate based on the amount expected to be received in\nrelation to the underlying transactions that have occurred during the reporting period\nand that result in progress by the entity toward achieving the specified requirements\nfor receiving the rebate; and\n(e) rebates that are discretionary should be recognised by the entity at the earlier of\n(1) when credited or paid by the supplier and (2) when the supplier becomes obligated\nto credit or pay them.\n_________________________\nRejected Issue – Inventory Rebates and Settlement Discounts (September 2005) 2\n Source: `other-pdfs/AASB102_RejectIssueInventoryRebates-Discounts-revised.pdf (http://www.aasb.gov.au/admin/file/content105/c9/AASB102_RejectIssueInventoryRebates-Discounts-revised.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n21 22 23 24\nPBS Outcome 1 Issue Australian-specific AUASB X X X X ▪ Issue all Australian-specific AUASB Standards and Exposure\nPBS Program 1 standards and guidance in a timely Drafts within one month of AUASB approval\nPBS Deliverable 1 manner with accompanying ▪ Develop and implement Project Plans for the update or removal\nPBS Performance implementation materials and of all AUASB Guidance Statements (GS)identified as out of\nCriteria 2, 3, 5 & 6 communications that are tailored for date\nAustralian stakeholders ▪ Release updated GS within two weeks of approval by AUASB\n▪ Finalise conforming amendments and compilation standards as\na result of changes to AUASB standards within one month of\nthe AUASB standard being issued\nPage 30 of 39\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [pages 30,31,32]\nObjectives) Measures of success outputs & outcomes\n(Impact)\n21 22 23 24\nPBS Outcome 1 Issue Australian-specific AUASB X X X X ▪ Issue all Australian-specific AUASB Standards and Exposure\nPBS Program 1 standards and guidance in a timely Drafts within one month of AUASB approval\nPBS Deliverable 1 manner with accompanying ▪ Develop and implement Project Plans for the update or removal\nPBS Performance implementation materials and of all AUASB Guidance Statements (GS)identified as out of\nCriteria 2, 3, 5 & 6 communications that are tailored for date\nAustralian stakeholders ▪ Release updated GS within two weeks of approval by AUASB\n▪ Finalise conforming amendments and compilation standards as\na result of changes to AUASB standards within one month of\nthe AUASB standard being issued\nPage 30 of 39\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [Page 5]\nThe AASB and AUASB Corporate Plan\nThe corporate plan of the AASB and AUASB sets out why we exist, what we need to do to achieve our purpose, the factors that influence how we\nachieve our purpose, the activities we intend to undertake and the ways in which we measure whether we have achieved our purpose, as set out in\nthe diagrams below.\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [Page 7]\nThe corporate plan of the AASB and AUASB sets out why we exist, what we need to do to achieve our purpose, the factors that influence how we achieve\nour purpose, the activities we intend to undertake and the ways in which we measure whether we have achieved our purpose, as set out in the diagrams\nbelow.\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n- [Page 7]\nThe corporate plans of the AASB and AUASB set out why we exist, what we need to do to achieve our purpose, the factors that influence how we achieve\nour purpose, the activities we intend to undertake and the ways in which we measure whether we have achieved our purpose, as set out in the diagrams\nbelow.\n Source: `corporate-plans/2024-25.pdf (http://www.aasb.gov.au/media/iszdgoex/aasb-auasb_corporateplan2024-25.pdf)`\n- [Page 9]\nThe corporate plans of the AASB and AUASB set out why we exist, what we need to do to achieve our purpose, the factors that influence how\nwe achieve our purpose, the activities we intend to undertake and the ways in which we measure whether we have achieved our purpose, as set\nout in the diagrams below.\n Source: `corporate-plans/2025-26.pdf (http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf)`\n- [Page 2]\nContents\nPreface 3\nIntroduction 4\nAccountable authority approval 4\nThe purpose of the AASB and AUASB 7\nObjectives for accounting and auditing and assurance standard setting in Australia 8\nFunctions 8\nEnvironment 9\nThe Australian Reporting Framework 9\nSetting standards in the global economy 18\nRegulatory 21\nRisk oversight and management 22\nPerformance: achieving our strategy 25\nVision, mission and strategy 25\nActivities mapped to strategy and KPIs for measuring success 25\nCapability: Strategic enablers 26\nPage 2 of 39\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [Page 4]\nIntroduction\nAs agreed with the Department of Finance, the 2021-22 Corporate Plans for the Australian Accounting\nStandards Board (AASB) and Auditing and Assurance Standards Board (AUASB) have been prepared as\na single document, with the specific purpose and significant activities of each Board separately presented\nwhere required by Subsection 35(1) of the Public Governance, Performance and Accountability Act 2013.\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [Page 26]\nAASB activities mapped to strategies and KPIs for measuring success\nStrategic Priority 1 - Performance Activity Focus: Brand/Reputation\nLink to strategy Year\nWhat do we need to do? (Objectives) (Measures of success outputs & outcomes)\n(Impact)\n21 22 23 24\nStrategy 2 Define appropriate reporting frameworks X X X X ▪ Appropriate framework for not-for-profit private and public\nPBS Outcome 14 for each of the three sectors - for-profit sector defined and other regulator (e.g.\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [pages 27,28,29,30]\nitive stakeholder feedback on education initiatives\nStrategic Priority 2 - Performance Activity Focus: Stakeholder Engagement\nLink to strategy Year\nWhat do we need to do? (Objectives) (Measures of success outputs & outcomes)\n(Impact)\n21 22 23 24\nStrategy 4 E nhance stakeholder engagement X X X X ▪ Key stakeholders identified by 30 June 2020 and planned\nPBS Outcome 1 program of engagement executed as planned\nProgram 1 ▪ Positive stakeholder feedback on the consultation process\nDeliverables 12,13 ▪ Increase in engagement results (newsletter, website, LinkedIn,\nKPIs 3,5 Twitter, webinar, outreach numbers)\nStrategy 4 Conduct Agenda consultations to X X ▪ Agenda consultation conducted every 3-5 years\nPBS Outcome 1 determine projects and priorities\nProgram 1\nDeliverables 15\nKPIs 5,\nPage 27 of 39\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [Page 28]\nStrategic Priority 3 - Performance Activity Focus: People & Culture\nLink to strategy Year\nWhat do we need to do? (Objectives) (Measures of success outputs & outcomes)\n(Impact)\n21 22 23 24\nStrategies 1-7 Develop and implement People and X X X X ▪ Employee survey, employee engagement\nPBS Outcome 1 Culture strategy ▪ Building towards high-performance team as measured by\nProgram 1 Board and stakeholder feedback on delivery of program and all\nother measures of success\nNew starter processes improved to X X X X ▪ New team members embedded successfully within six months\nsupport flexible subject matter expert of starting as measured by internal and external stakeholders’\ninvolvement feedback (as appropriate)\nUnderstand current capability (talent X X X X ▪ Continuous review of external talent pool to timely identify\nmapping) when/where to buy or borrow capability\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [Page 29]\nStrategic Priority 5 - Performance Activity Focus: Operational & Business Excellence\nLink to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n21 2 23 24\nStrategies 1-7 Refresh strategy supporting operational X X X X ▪ Regularly revisit current strategy to determine impact of\nPBS Outcome 1 excellence and regulatory compliance implementation\nProgram 1 ▪ Comply with regulatory obligations\n▪\nKnowledge and information sharing X X X X ▪ Key knowledge imparted across teams within six months of\nsupport flexible subject matter expert joining\ninvolvement\nContinuous improvement of operational X X X X ▪ Review of operational processes on an ongoing basis\nprocesses to achieve planned\noutcomes\nStrategic Priority 6 - Performance Activity Focus: Program & Project Management\nLink to strategy Year\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n21 22 23 24\nPBS Outcome 1 With the FRC, devise and complete X X X X ▪ AUASB contribute to the development of the FRC Audit Quality\nPBS Program 1 activities to implement the FRC’s Audit Plan\nPBS Deliverable 7 Quality Action Plan and contribute to ▪ All AUASB Audit Quality activities delivered as required by the\nPBS Performance improved audit quality outcomes in the FRC Audit Quality Plan\nCriteria 3, 5 & 6 Australian auditing environment ▪ AUASB staff to develop auditing and assurance related papers\nfor FRC meetings\n▪ Collaborate with FRC and other relevant stakeholders on\nresponses to the Parliamentary Joint Committee Inquiry on the\nregulation of Auditing\nWork with ASIC, the AASB, practitioners X X X X ▪ Undertake consultation with ASIC and practitioners to identify\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n\n## Key Metrics\n\n- Financial risk of inadequate • Limited finances, headcount flexibility and IT • Maximise use of existing resources, collaborate with other\nfunding to perform mandate. spend impact on the quality of standards government agencies\n• MOU for shared services between AASB and AUASB regularly\nreviewed\n• Regular benchmarking of Australian standard-setting process\nagainst international counterparts\n• Identify joint projects and opportunities to leverage resources with\nother like-minded standard setters\nOperational legislative • Non-compliance • Oversight by the Audit and Risk Committee with independent\nrequirements and government • Critical business systems failure (data security, members, compliance with Commonwealth Risk Management\npolicies are numerous, complex business continuity) Policy\nand subject to frequent change.\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- Title\nIFRS IC\nAgenda Decisions\n(Latest Date)\n–\nUnallocated – relevant to more than one Standard [see agenda decisions listed by date on IASB website]\nApr 2025\n1\nFirst-time Adoption of Australian Accounting Standards\nSep 2017\n2\nShare-based Payment\nOct 2022\n3\nBusiness Combinations\nApr 2024\n4\nInsurance Contracts\nJan 2010\n5\nNon-current Assets Held for Sale and Discontinued Operations\nJan 2016\n6\nExploration for and Evaluation of Mineral Resources\nJan 2006\n7\nFinancial Instruments: Disclosures\nDec 2020\n8\nOperating Segments\nJul 2024\n9\nFinancial Instruments\nJan 2026\n10\nConsolidated Financial Statements\nMar 2017\n11\nJoint Arrangements\nMar 2019\n12\nDisclosure of Interests in Other Entities\nMar 2019\n13\nFair Value Measurement\nJan 2015\n14\nRegulatory Deferral Accounts\nnone\n15\nRevenue from Contracts with Customers\nApr 2025\n16\nLeases\nApr 2023\n17\nInsurance Contracts\nOct 2023\n101\n Source: `pages/priorities-index__04.html (http://www.aasb.gov.au/pronouncements/ifrs-ic-agenda-decisions/)`\n- The AASB has a Conceptual framework that sets out the purpose of preparing financial statements, the\nkey elements of financial statements (assets, liabilities, revenue, expenses and equity) and provides\nguidance on how to set standards.\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n21 22 23 24\nPBS Outcome 1 With the FRC, devise and complete X X X X ▪ AUASB contribute to the development of the FRC Audit Quality\nPBS Program 1 activities to implement the FRC’s Audit Plan\nPBS Deliverable 7 Quality Action Plan and contribute to ▪ All AUASB Audit Quality activities delivered as required by the\nPBS Performance improved audit quality outcomes in the FRC Audit Quality Plan\nCriteria 3, 5 & 6 Australian auditing environment ▪ AUASB staff to develop auditing and assurance related papers\nfor FRC meetings\n▪ Collaborate with FRC and other relevant stakeholders on\nresponses to the Parliamentary Joint Committee Inquiry on the\nregulation of Auditing\nWork with ASIC, the AASB, practitioners X X X X ▪ Undertake consultation with ASIC and practitioners to identify\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- Link to strategy Year\n(Impact) What do we need to do? (Objectives) Measures of success outputs & outcomes\n21 22 23 24\nPBS Outcome 1 Develop thought leadership and X X X X ▪ Project plans developed and 2021-22 outputs identified for\nPBS Program 1 implement strategic projects to improve each strategic priority area\nPBS Deliverable 5 auditing and assurance practice in ▪ Develop and implement outreach and engagement plans with\nPBS Performance priority areas such as Extended subject matter experts and key stakeholders for each\nCriteria 3, 4, 5, 6 & 7 External Reporting (EER), Audits of strategic thought leadership project area\nLess Complex Entities (LCEs) and the ▪ Regular updates provided to AUASB members at AUASB\nuse of Technology in the Audit meetings\n▪ AUASB board members or staff to publish articles or\npublications on selected strategic thought leadership project\nareas\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [pages 30,31,32,33]\nrmance criteria are aligned to the AASB’s and the AUASB’s Portfolio Budget\nStatements (‘PBS’) for 2022-2023.\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n- [Page 32]\nLink to strategy Year\nWhat do we need to do? (Objectives) (Measures of success outputs & outcomes)\n(Impact)\n22 23 24 25\n• appropriate consultation in\naccordance with the due process\nframework\n• preparation of regulatory impact\nstatement assessing costs and\nbenefits\nStrategy 1,3,4 Post-implementation reviews conducted X X X X ▪ No significant changes needed\nPBS Outcome 1 (PIR) for all significant projects to assess ▪ PIR feedback is acted upon\nProgram 1 quality of standard-setting ▪ No evidence not contributing to the confidence in the\nDeliverables 1,2 economy.\n▪ Feedback from ASIC, APRA, ACNC surveillance reviews\ndoes not indicate loss of confidence due to accounting\nstandard issues\n▪ No significant decline in relevance of financial statements in\nthe capital market\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n22 23 24 25\nPBS Outcome 1 Build and maintain strong international X X X X ▪ Collaborate with the IAASB and likeminded National\nPBS Program 1 relationships with the IAASB and like- Auditing Standards Setters (“NSS”, particularly New\nPBS Deliverable 3 minded Global and National Auditing Zealand and Canada) on common global and other projects\nPBS Performance Standard Setters, particularly New relevant to the AUASB work program\nCriteria 1, 3, 4 & 7 Zealand and Canada. ▪ Identify and implement initiatives to collaborate on\ninternational auditing and assurance focus areas with other\nkey national standard-setters\nDemonstrate the AUASB’s influence X X X X ▪ AUASB Chair and Technical Team member to attend all\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n22 23 24 25\nPBS Outcome 1 With the FRC, devise and complete X X X X ▪ Contribute to the development of the FRC Audit Quality Plan\nPBS Program 1 activities to implement the FRC’s Audit and deliver all AUASB Audit Quality activities as required\nPBS Deliverable 7 Quality Action Plan and contribute to ▪ AUASB staff to develop auditing and assurance related papers\nPBS Performance improved audit quality outcomes in the for FRC meetings\nCriteria 3, 5 & 6 Australian auditing environment\nWork with ASIC, the AASB, practitioners X X X X ▪ Undertake consultation with ASIC and practitioners to identify\nand other stakeholders to identify and improvements needed to auditing standards and develop\naddress significant inspection findings relevant guidance materials addressing common inspection\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n- Link to strategy Year\n(Impact) What do we need to do? (Objectives) Measures of success outputs & outcomes\n22 23 24 25\nPBS Outcome 1 Develop thought leadership and X X X X ▪ Project plans are developed with key outputs identified for\nPBS Program 1 implement strategic projects to each AUASB strategic priority area (including outreach\nPBS Deliverable 5 improve auditing and assurance plans with subject matter experts and key stakeholders\nPBS Performance practice in priority areas such as ▪ AUASB board members or staff to publish or contribute to\nCriteria 3, 4, 5, 6 & 7 Extended External Reporting (EER), articles or publications on selected strategic thought\nAudits of Less Complex Entities leadership project areas\n(LCEs) and the use of Technology in\nthe Audit\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n\n## Key Achievements\n\n- ACNC) sponsorship\nProgram 1 (e.g., listed and large proprietary obtained by 30/6/2024\nDeliverables 3 companies), not-for-profit (e.g. charities)\nand public sector\nStrategy 1,5,6 Agree on 3-year program of work and X X X X ▪ Annual program of standards issued, delivered to plan agreed\nPBS Outcome 1 deliver with the Board\nProgram 1 • Maintain IFRS and New Zealand ▪ IASB equivalent Standards issued within two months of the\nDeliverables 1,2,4,7,8 compliance for for-profit Private sector release of the IFRS for for-profit entities\nKPIs 1, 2, “publicly accountable” entities ▪ IFRS and NZ compliance maintained for the for-profit private\n• Tailor IFRS appropriately for other sector “publicly accountable” entities\nsectors, including developing ▪ Feedback from NFP sector positive regarding the\nAustralian specific guidance appropriateness of the IFRS tailoring\n• Develop guidance on external\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [Page 28]\nStrategic Priority 3 - Performance Activity Focus: People & Culture\nLink to strategy Year\nWhat do we need to do? (Objectives) (Measures of success outputs & outcomes)\n(Impact)\n21 22 23 24\nStrategies 1-7 Develop and implement People and X X X X ▪ Employee survey, employee engagement\nPBS Outcome 1 Culture strategy ▪ Building towards high-performance team as measured by\nProgram 1 Board and stakeholder feedback on delivery of program and all\nother measures of success\nNew starter processes improved to X X X X ▪ New team members embedded successfully within six months\nsupport flexible subject matter expert of starting as measured by internal and external stakeholders’\ninvolvement feedback (as appropriate)\nUnderstand current capability (talent X X X X ▪ Continuous review of external talent pool to timely identify\nmapping) when/where to buy or borrow capability\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [Page 29]\nStrategic Priority 5 - Performance Activity Focus: Operational & Business Excellence\nLink to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n21 2 23 24\nStrategies 1-7 Refresh strategy supporting operational X X X X ▪ Regularly revisit current strategy to determine impact of\nPBS Outcome 1 excellence and regulatory compliance implementation\nProgram 1 ▪ Comply with regulatory obligations\n▪\nKnowledge and information sharing X X X X ▪ Key knowledge imparted across teams within six months of\nsupport flexible subject matter expert joining\ninvolvement\nContinuous improvement of operational X X X X ▪ Review of operational processes on an ongoing basis\nprocesses to achieve planned\noutcomes\nStrategic Priority 6 - Performance Activity Focus: Program & Project Management\nLink to strategy Year\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n21 22 23 24\nPBS Outcome 1 With the FRC, devise and complete X X X X ▪ AUASB contribute to the development of the FRC Audit Quality\nPBS Program 1 activities to implement the FRC’s Audit Plan\nPBS Deliverable 7 Quality Action Plan and contribute to ▪ All AUASB Audit Quality activities delivered as required by the\nPBS Performance improved audit quality outcomes in the FRC Audit Quality Plan\nCriteria 3, 5 & 6 Australian auditing environment ▪ AUASB staff to develop auditing and assurance related papers\nfor FRC meetings\n▪ Collaborate with FRC and other relevant stakeholders on\nresponses to the Parliamentary Joint Committee Inquiry on the\nregulation of Auditing\nWork with ASIC, the AASB, practitioners X X X X ▪ Undertake consultation with ASIC and practitioners to identify\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [Page 35]\nStrategic Priority 6 - Performance Activity Focus: Program & Project\nManagement\nLink to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n22 23 24 25\nStrategies 1-7 Develop, implement and improve X X X X ▪ Continuous review and improvement of program and project\nPBS Outcome 1 program and project management management approach\nProgram 1\nIdentify and establish frameworks and X X X X ▪ Review processes and frameworks so team members are clear\nprocesses to allocate resources and deliver on expectations\nappropriately, establish and monitor ▪ Further enhancements implemented based on regular program\naccountabilities a nd project management meetings\nAllocate resources efficiently and X X X X ▪ Deliver agreed program of work as planned\neffectively\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n- [Page 36]\nStrategic Priority 6 - Performance Activity Focus: Program & Project\nManagement\nLink to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n23 24 25 26\nStrategies 1-7 Develop, implement and improve X X X X ▪ Continuous review and improvement of program and project\nPBS Outcome 1 program and project management management approach\nProgram 1\nIdentify and establish frameworks and X X X X ▪ Review processes and frameworks so team members are clear\nprocesses to allocate resources and deliver on expectations\nappropriately, establish and monitor ▪ Further enhancements implemented based on regular program\naccountabilities a nd project management meetings\nAllocate resources efficiently and X X X X ▪ Deliver agreed program of work as planned\neffectively\nPage 36 of 47\n Source: `corporate-plans/2023-24.pdf (http://www.aasb.gov.au/media/ji1ixwgp/aasb-auasb_corporateplan2023-24_22082024.pdf)`\n- [Page 37]\nStrategic Priority 6 - Performance Activity Focus: Program & Project\nManagement\nLink to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n24 25 26 27\nStrategies 1-7 Develop, implement and improve X X X X ▪ Continuous review and improvement of program and project\nPBS Outcome 1 program and project management management approach\nProgram 1\nIdentify and establish frameworks and X X X X ▪ Review processes and frameworks so team members are clear\nprocesses to allocate resources and deliver on expectations\nappropriately, establish and monitor ▪ Further enhancements implemented based on regular program\naccountabilities a nd project management meetings\nAllocate resources efficiently and X X X X ▪ Deliver agreed program of work as planned\neffectively\nPage 37 of 48\n Source: `corporate-plans/2024-25.pdf (http://www.aasb.gov.au/media/iszdgoex/aasb-auasb_corporateplan2024-25.pdf)`\n- [Page 45]\nStrategic Priority 6 - Performance Activity Focus: Program & Project\nManagement\nLink to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n25 26 27 28\nStrategies 1-7 Develop, implement and improve X X X X  Continuous review and improvement of program and project\nPBS Outcome 1 program and project management management approach\nProgram 1\nIdentify and establish frameworks and X X X X  Review processes and frameworks so team members are clear\nprocesses to allocate resources and deliver on expectations\nappropriately, establish and monitor  Further enhancements implemented based on regular program\naccountabilities a nd project management meetings\nAllocate resources efficiently and X X X X  Deliver agreed program of work as planned\neffectively\nPage 45 of 57\n Source: `corporate-plans/2025-26.pdf (http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf)`\n- [pages 15,16,17,18]\ninfluence during the formative stages of standards development, in 2019-20 the\nAUASB implemented a revised process for issuing IAASB Exposure Drafts (EDs) in Australia, where the\nEDs are issued concurrently with their release internationally.\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n21 22 23 24\nPBS Outcome 1 Issue all IAASB-based AUASB standards X X X X ▪ Issue all Australian IAASB equivalent Standards and Exposure\nPBS Program 1 and guidance in a timely manner with Drafts within 3 months of PIOB clearance or 1 month of AUASB\nPBS Deliverable 1 accompanying implementation materials approval, as appropriate\nPBS Performance and communications that are tailored for ▪ Release Exposure Drafts/Discussion Papers via the AUASB\nCriteria 1, 3, 4, 6 & 7 Australian stakeholders Website within two weeks of approval by AUASB\n▪ AUASB implementation support materials and activities for all\nnew IAASB/AUASB standards in place before effective date\n▪\nSeek feedback on relevance, X X X X ▪ Stakeholder engagement and Communications plan developed\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n22 23 24 25\nPBS Outcome 1 Issue all IAASB-based AUASB standards X X X X ▪ Issue all Australian IAASB equivalent Standards and Exposure\nPBS Program 1 and guidance in a timely manner with Drafts within 3 months of PIOB clearance or 1 month of AUASB\nPBS Deliverable 1 accompanying implementation materials approval\nPBS Performance and communications that are tailored for ▪ Release Exposure Drafts/Discussion Papers via the AUASB\nCriteria 1, 3, 4, 6 & 7 Australian stakeholders Website within two weeks of approval by AUASB\n▪ AUASB implementation support materials and activities for all\nnew IAASB/AUASB standards in place before effective date\nSeek feedback on relevance, X X X X ▪ Communications plan developed and implemented for each\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n22 23 24 25\nPBS Outcome 1 Issue Australian-specific AUASB X X X X ▪ Issue all Australian-specific Pronouncements and Exposure\nPBS Program 1 standards and guidance in a timely Drafts within one month of AUASB approval\nPBS Deliverable 1 manner with accompanying ▪ Complete and publish conforming amendments and\nPBS Performance implementation materials and compilation standards arising from changes to AUASB\nCriteria 2, 3, 5 & 6 communications that are tailored for standards in accordance with legislative timeframes and in\nAustralian stakeholders advance of effective dates\nSeek feedback on relevance, X X X X ▪ Communications plan developed and implemented for each\neffectiveness and public interest of new AUASB pronouncement\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n\n## Key Issues, Risks, and Recommendations\n\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n21 22 23 24\nPBS Outcome 1 With the FRC, devise and complete X X X X ▪ AUASB contribute to the development of the FRC Audit Quality\nPBS Program 1 activities to implement the FRC’s Audit Plan\nPBS Deliverable 7 Quality Action Plan and contribute to ▪ All AUASB Audit Quality activities delivered as required by the\nPBS Performance improved audit quality outcomes in the FRC Audit Quality Plan\nCriteria 3, 5 & 6 Australian auditing environment ▪ AUASB staff to develop auditing and assurance related papers\nfor FRC meetings\n▪ Collaborate with FRC and other relevant stakeholders on\nresponses to the Parliamentary Joint Committee Inquiry on the\nregulation of Auditing\nWork with ASIC, the AASB, practitioners X X X X ▪ Undertake consultation with ASIC and practitioners to identify\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [pages 32,33,34,35]\nsurance related papers\nfor FRC meetings\n▪ Collaborate with FRC and other relevant stakeholders on\nresponses to the Parliamentary Joint Committee Inquiry on the\nregulation of Auditing\nWork with ASIC, the AASB, practitioners X X X X ▪ Undertake consultation with ASIC and practitioners to identify\nand other stakeholders to identify and areas which identify improvements needed to auditing\naddress significant inspection findings standards\nassociated with accounting and auditing ▪ Develop relevant guidance materials addressing common\nstandards inspection findings in key audit areas\n▪ Work with AASB to address accounting issues impacting audit\nquality\n▪ Monitor and respond to any recommendations from the Joint\nParliamentary Inquiry on the regulation of Auditing relevant to\nthe AUASB\nPage 32 of 39\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [Page 24]\n• • ● Legal contracts\n• ● Outsourced IT team\n• ● Agreed DRP/BCP solution involves Productivity Commission\nsupport\n• ● Incident management process\n• ● Management and compliance with Government Information\nSecurity requirements\nIndividual Person Risk Individual key person risk (legal, either private • ● Oversight of risk by Audit and Risk Committee\nor professional) resulting in perceived issues • ● Separation and segregation of duties\nrelating to delivery of business requirements, • ● Disclosure by staff of any legal issues that may have\nreputation of business and/or confidence in brand/reputation issues within a centrally maintained register\norganisation\nPage 24 of 39\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n22 23 24 25\nPBS Outcome 1 With the FRC, devise and complete X X X X ▪ Contribute to the development of the FRC Audit Quality Plan\nPBS Program 1 activities to implement the FRC’s Audit and deliver all AUASB Audit Quality activities as required\nPBS Deliverable 7 Quality Action Plan and contribute to ▪ AUASB staff to develop auditing and assurance related papers\nPBS Performance improved audit quality outcomes in the for FRC meetings\nCriteria 3, 5 & 6 Australian auditing environment\nWork with ASIC, the AASB, practitioners X X X X ▪ Undertake consultation with ASIC and practitioners to identify\nand other stakeholders to identify and improvements needed to auditing standards and develop\naddress significant inspection findings relevant guidance materials addressing common inspection\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n- [Page 30]\nStrategic risks Impact How we will manage these risks\nOperational legislative • Non-compliance • Oversight by the Audit and Risk Committee with independent\nrequirements and • Critical business systems failure (data security, members, compliance with Commonwealth Risk\ngovernment policies are business continuity) Management Policy\nnumerous, complex and • Brand and reputation issues • Software to assist in meeting compliance requirements\nsubject to frequent change. • Financial impact • Risk Register and Fraud Control Plan reviewed quarterly by\nInadequate technology to • Combined Chair and CEO role not recommended the Chairs and the ARC\ndeliver on objectives. best practice corporate governance • Regular training of AASB and AUASB staff on PGPA and APS\nCode of Conduct requirements\n• Regular review of IT strategy and capability\n Source: `corporate-plans/2023-24.pdf (http://www.aasb.gov.au/media/ji1ixwgp/aasb-auasb_corporateplan2023-24_22082024.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n23 24 25 26\nPBS Outcome 1 With the FRC, devise and complete X X X X ▪ Contribute to FRC Audit Quality initiatives and deliver all\nPBS Program 1 activities to implement the FRC’s Audit AUASB Audit Quality activities as required\nPBS Deliverable 7 Quality Action Plan and contribute to ▪ AUASB staff to develop auditing and assurance related papers\nPBS Performance improved audit quality outcomes in the for FRC meetings\nCriteria 3, 5 & 6 Australian auditing environment\nWork with regulators, the AASB, X X X X ▪ Undertake consultation with regulators and practitioners to\npractitioners and other stakeholders to identify improvements needed to auditing standards and\nidentify and provide appropriate develop relevant guidance materials\n Source: `corporate-plans/2023-24.pdf (http://www.aasb.gov.au/media/ji1ixwgp/aasb-auasb_corporateplan2023-24_22082024.pdf)`\n- [Page 31]\nStrategic risks Impact How we will manage these risks\nOperational legislative • Non-compliance • Oversight by the Audit and Risk Committee with independent\nrequirements and • Critical business systems failure (data security, members, compliance with Commonwealth Risk Management\ngovernment policies are business continuity) Policy\nnumerous, complex and • Brand and reputation issues • Software to assist in meeting compliance requirements\nsubject to frequent change. • Financial impact • Risk Register and Fraud Control Plan reviewed quarterly by the\nInadequate technology to • Chairs and the ARC\ndeliver on objectives. • Regular training of AASB and AUASB staff on PGPA and APS\nCode of Conduct requirements\n• Regular review of IT strategy and capability\nCyber Security Risk • Risk that the entity faces denial of service Appropriate safeguards over critical business systems including:\n Source: `corporate-plans/2024-25.pdf (http://www.aasb.gov.au/media/iszdgoex/aasb-auasb_corporateplan2024-25.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n24 25 26 27\nPBS Outcome 1 Contribute to improved audit quality X X X X ▪ AUASB staff to develop relevant auditing and assurance\nPBS Program 1 outcomes in the Australian auditing related papers for FRC meetings\nPBS Deliverable 7 environment\nPBS Performance Work with regulators, the AASB, X X X X ▪ Undertake consultation with regulators and practitioners to\nCriteria 3, 5 & 6 practitioners and other stakeholders to identify improvements needed to auditing standards and\nidentify and provide appropriate develop relevant guidance materials\nguidance on significant areas identified ▪ Monitor and respond to recommendations arising from\nfor clarification or education in Parliamentary Inquiries, Treasury Consultation or other external\n Source: `corporate-plans/2024-25.pdf (http://www.aasb.gov.au/media/iszdgoex/aasb-auasb_corporateplan2024-25.pdf)`\n- [Page 39]\nStrategic risks Impact How we will manage these risks\nOperational legislative • Non-compliance • Oversight by the Audit and Risk Committee with independent\nrequirements and • Critical business systems failure (data security, members, compliance with Commonwealth Risk Management\ngovernment policies are business continuity) Policy\nnumerous, complex and • Brand and reputation issues • Software to assist in meeting compliance requirements\nsubject to frequent change. • Financial impact • Risk Register and Fraud Control Plan reviewed quarterly by the\nInadequate technology to • Chairs and the ARC\ndeliver on objectives. • Regular training of AASB and AUASB staff on PGPA and APS\nCode of Conduct requirements\n• Regular review of IT strategy and capability\nCyber Security Risk • Risk that the entity faces denial of service Appropriate safeguards over critical business systems including:\n Source: `corporate-plans/2025-26.pdf (http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf)`\n- Financial risk of inadequate • Limited finances, headcount flexibility and IT • Maximise use of existing resources, collaborate with other\nfunding to perform mandate. spend impact on the quality of standards government agencies\n• MOU for shared services between AASB and AUASB regularly\nreviewed\n• Regular benchmarking of Australian standard-setting process\nagainst international counterparts\n• Identify joint projects and opportunities to leverage resources with\nother like-minded standard setters\nOperational legislative • Non-compliance • Oversight by the Audit and Risk Committee with independent\nrequirements and government • Critical business systems failure (data security, members, compliance with Commonwealth Risk Management\npolicies are numerous, complex business continuity) Policy\nand subject to frequent change.\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [Page 23]\nRisk Impact Mitigating Actions\nNot seen as a competitive • Culture and environment not supporting • Use of HR consultants to identify People and Culture gaps\nemployer in the marketplace. productivity and effectiveness • Appropriate systems of reward and recognition established\n• Brand and reputation issues • Monitoring of employee engagement\n• Performance development process implemented to provide timely\nconstructive feedback, career paths, development opportunities\nIncreasing complexity of • Not responding on a timely basis • Regular monitoring of domestic and international environments\nbusinesses, technological • No response to key changing issues • Use of advisory panels and secondees to provide adequate skills\nadvances, the rise in the • Lack of credibility or subject matter experts for and credibility\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [Page 29]\nStrategic risks Impact How we will manage these risks\nOperational legislative • Non-compliance • Oversight by the Audit and Risk Committee with\nrequirements and • Critical business systems failure (data security, independent members, compliance with\ngovernment policies are business continuity) Commonwealth Risk Management Policy\nnumerous, complex and • Brand and reputation issues • Software to assist in meeting compliance\nsubject to frequent change. • Financial impact requirements\nInadequate technology to • Combined Chair and CEO role not recommended • Risk Register and Fraud Control Plan reviewed\ndeliver on objectives. best practice corporate governance quarterly by the Chairs and the ARC\n• Regular training of AASB and AUASB staff on PGPA\nand APS Code of Conduct requirements\n• Regular review of IT strategy and capability\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n- [Page 2]\nContents\nPreface 3\nIntroduction 4\nAccountable authority approval 4\nThe purpose of the AASB and AUASB 7\nObjectives for accounting and auditing and assurance standard setting in Australia 8\nFunctions 8\nEnvironment 9\nThe Australian Reporting Framework 9\nSetting standards in the global economy 18\nRegulatory 21\nRisk oversight and management 22\nPerformance: achieving our strategy 25\nVision, mission and strategy 25\nActivities mapped to strategy and KPIs for measuring success 25\nCapability: Strategic enablers 26\nPage 2 of 39\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n21 22 23 24\nPBS Outcome 1 Issue Australian-specific AUASB X X X X ▪ Issue all Australian-specific AUASB Standards and Exposure\nPBS Program 1 standards and guidance in a timely Drafts within one month of AUASB approval\nPBS Deliverable 1 manner with accompanying ▪ Develop and implement Project Plans for the update or removal\nPBS Performance implementation materials and of all AUASB Guidance Statements (GS)identified as out of\nCriteria 2, 3, 5 & 6 communications that are tailored for date\nAustralian stakeholders ▪ Release updated GS within two weeks of approval by AUASB\n▪ Finalise conforming amendments and compilation standards as\na result of changes to AUASB standards within one month of\nthe AUASB standard being issued\nPage 30 of 39\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n\n## Corporate Values and Operating Culture\n\n- Its findings provide a baseline for enhancing service delivery and effectiveness.\nmini-card, small-h-img\ntrue\nsec-spacing\nsection-none\nsec-spacing-bottom\nsection-padding-between\nstyle\ndefault\nCONNECT\nWITH US\nfalse\nX\nlp-x\nhttps://x.com/wbg_gov\nSubscribe to our monthly newsletter\nWorld Bank Governance Global Department\nThe latest news, publications, and events on institutions, good governance, GovTech, open government, procurement, anticorruption, public finance, accountability & more.\nfalse\nGovernance Update|SVC123\nfalse\nTopic Expert\nArturo Herrera\nhttps://www.worldbank.org/en/about/people/a/arturo-herrera-gutierrez\ndefault alt\nDirector, Governance Global Department, World Bank\nmini-card\nmini-card\nView All Experts\nGovernance Contact\nLara Saade\nlsaade@worldbank.org\nsec-swoosh\nsec-swoosh-type11\nstyle\ngrid, bg-neutrals-20, stay-connected\nsec-spacing\nsection-none\nsec-spacing-bottom\n Source: `global-intelligence/source-text/association-worldbank.org-governance.txt`\n- [Page 4]\nIntroduction\nAs agreed with the Department of Finance, the 2021-22 Corporate Plans for the Australian Accounting\nStandards Board (AASB) and Auditing and Assurance Standards Board (AUASB) have been prepared as\na single document, with the specific purpose and significant activities of each Board separately presented\nwhere required by Subsection 35(1) of the Public Governance, Performance and Accountability Act 2013.\n Source: `corporate-plans/2021-22.pdf (http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf)`\n- [Page 4]\nIntroduction\nAs agreed with the Department of Finance, the 2022-23 Corporate Plans for the Australian\nAccounting Standards Board (AASB) and Auditing and Assurance Standards Board (AUASB) have\nbeen prepared as a single document, with the specific purpose and significant activities of each\nBoard separately presented where required by Subsection 35(1) of the Public Governance,\nPerformance and Accountability Act 2013.\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n- Link to strategy Year\nWhat do we need to do? (Objectives) Measures of success outputs & outcomes\n(Impact)\n22 23 24 25\nPBS Outcome 1 Build and maintain strong international X X X X ▪ Collaborate with the IAASB and likeminded National\nPBS Program 1 relationships with the IAASB and like- Auditing Standards Setters (“NSS”, particularly New\nPBS Deliverable 3 minded Global and National Auditing Zealand and Canada) on common global and other projects\nPBS Performance Standard Setters, particularly New relevant to the AUASB work program\nCriteria 1, 3, 4 & 7 Zealand and Canada. ▪ Identify and implement initiatives to collaborate on\ninternational auditing and assurance focus areas with other\nkey national standard-setters\nDemonstrate the AUASB’s influence X X X X ▪ AUASB Chair and Technical Team member to attend all\n Source: `corporate-plans/2022-23.pdf (http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf)`\n- [Page 4]\nIntroduction\nAs agreed with the Department of Finance, the 2023-24 Corporate Plans for the Australian\nAccounting Standards Board (AASB) and Auditing and Assurance Standards Board (AUASB) have\nbeen prepared as a single document, with the specific purpose and significant activities of each\nBoard separately presented where required by Subsection 35(1) of the Public Governance,\nPerformance and Accountability Act 2013.\n Source: `corporate-plans/2023-24.pdf (http://www.aasb.gov.au/media/ji1ixwgp/aasb-auasb_corporateplan2023-24_22082024.pdf)`\n- [pages 28,29,30,31]\nstandards\n• Perceived or actual loss of independence of the Submissions and presentations to public enquiries when\nBoard and ability to act in the public interest requested (e.g., Joint Parliamentary Inquiry into the\nRegulation of auditing in Australia.)\nMultiple other regulators • Accounting and auditing standards: • Regular liaison with other key regulators\nrequiring and/or enforcing o required inappropriately • Collaboration with other regulators when developing\naccounting and auditing o not enforced appropriately standards\nstandards. • Stakeholders not understanding AASB and AUASB • Working with regulators and practitioners to develop\nresponsibilities guidance in response to inspection review findings\n• Brand and reputation issues as standards not seen\nas fit for purpose\nPage 28 of 47\n Source: `corporate-plans/2023-24.pdf (http://www.aasb.gov.au/media/ji1ixwgp/aasb-auasb_corporateplan2023-24_22082024.pdf)`\n- [Page 30]\nStrategic risks Impact How we will manage these risks\nOperational legislative • Non-compliance • Oversight by the Audit and Risk Committee with independent\nrequirements and • Critical business systems failure (data security, members, compliance with Commonwealth Risk\ngovernment policies are business continuity) Management Policy\nnumerous, complex and • Brand and reputation issues • Software to assist in meeting compliance requirements\nsubject to frequent change. • Financial impact • Risk Register and Fraud Control Plan reviewed quarterly by\nInadequate technology to • Combined Chair and CEO role not recommended the Chairs and the ARC\ndeliver on objectives. best practice corporate governance • Regular training of AASB and AUASB staff on PGPA and APS\nCode of Conduct requirements\n• Regular review of IT strategy and capability\n Source: `corporate-plans/2023-24.pdf (http://www.aasb.gov.au/media/ji1ixwgp/aasb-auasb_corporateplan2023-24_22082024.pdf)`\n- [Page 4]\nIntroduction\nAs agreed with the Department of Finance, the 2024-25 Corporate Plans for the Australian\nAccounting Standards Board (AASB) and Auditing and Assurance Standards Board (AUASB) have\nbeen prepared as a single document, with the specific purpose and significant activities of each\nBoard separately presented where required by Subsection 35(1) of the Public Governance,\nPerformance and Accountability Act 2013.\n Source: `corporate-plans/2024-25.pdf (http://www.aasb.gov.au/media/iszdgoex/aasb-auasb_corporateplan2024-25.pdf)`\n\n## Global Ideas and Case Study Inputs\n\nGlobal source texts are available for later idea synthesis:\n- `global-intelligence/source-text/association-worldbank.org-governance.txt`\n- `global-intelligence/source-text/association-worldbank.org-public-financial-management.txt`\n- `global-intelligence/source-text/consulting-deloitte.com-government-public.txt`\n- `global-intelligence/source-text/university-ash.harvard.edu-Harvard-Kennedy-School-Ash-Center.txt`\n\n## Source Artifacts Used\n\n- `corporate-plans/2021-22.pdf` - corporate-plans - http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf\n- `corporate-plans/2022-23.pdf` - corporate-plans - http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf\n- `corporate-plans/2023-24.pdf` - corporate-plans - http://www.aasb.gov.au/media/ji1ixwgp/aasb-auasb_corporateplan2023-24_22082024.pdf\n- `corporate-plans/2024-25.pdf` - corporate-plans - http://www.aasb.gov.au/media/iszdgoex/aasb-auasb_corporateplan2024-25.pdf\n- `corporate-plans/2025-26.pdf` - corporate-plans - http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf\n- `strategies/AASB_AUASB_Strategy_2017-2021_FAQs.pdf` - strategies - http://www.aasb.gov.au/admin/file/content102/c3/AASB_AUASB_Strategy_2017-2021_FAQs.pdf\n- `strategies/aasb-auasb_strategy2022-23.pdf` - strategies - http://www.aasb.gov.au/media/whbjunq0/aasb-auasb_strategy2022-23.pdf\n- `strategies/aasb-auasb_strategy2024-25.pdf` - strategies - http://www.aasb.gov.au/media/1ksfawrj/aasb-auasb_strategy2024-25.pdf\n- `strategies/aasb-auasb_strategy2025-26.pdf` - strategies - http://www.aasb.gov.au/media/qdglztqv/aasb-auasb_strategy2025-26.pdf\n- `pages/about.html` - pages - http://www.aasb.gov.au\n- `pages/announcements-index.html` - pages - http://www.aasb.gov.au/pronouncements/statement-of-accounting-concepts-archival-version/\n- `pages/contact.html` - pages - http://www.aasb.gov.au/contact/\n- `pages/homepage.html` - pages - http://www.aasb.gov.au\n- `pages/media-releases-index.html` - pages - http://www.aasb.gov.au/media-releases/\n- `pages/media-releases-index__14.html` - pages - http://www.aasb.gov.au/media-releases/\n- `pages/media-releases-index__15.html` - pages - http://www.aasb.gov.au/pronouncements/statement-of-accounting-concepts-archival-version/\n- `pages/media-releases-index__16.html` - pages - http://www.aasb.gov.au/pronouncements/practice-statements-archival-version/\n- `pages/media-releases-index__17.html` - pages - http://www.aasb.gov.au/research-resources/pre-2005-standards/\n- `pages/media-releases-index__18.html` - pages - http://www.aasb.gov.au/research-resources/pre-2005-standards/pre-2005-aasb-standards/\n- `pages/media-releases-index__19.html` - pages - http://www.aasb.gov.au/research-resources/pre-2005-standards/pre-2005-aas-standards/\n- `pages/media-releases-index__20.html` - pages - http://www.aasb.gov.au/about-the-aasb/artificial-intelligence-ai-transparency-statement/\n- `pages/media-releases-index__21.html` - pages - http://www.aasb.gov.au/media-releases/?category=Standards\n- `pages/media-releases-index__22.html` - pages - http://www.aasb.gov.au/media-releases/aasb-masb-and-cpa-australia-launch-joint-research-report-addressing-key-accounting-challenges/\n- `pages/media-releases-index__23.html` - pages - http://www.aasb.gov.au/media-releases/climate-reporting-standards-exposure-draft-released-for-feedback/\n- `pages/media-releases-index__24.html` - pages - http://www.aasb.gov.au/media-releases/australian-and-malaysian-standards-board-publish-first-joint-research/\n- `pages/media-releases-index__26.html` - pages - http://www.aasb.gov.au/media-releases/media-release-on-climate-change-proposed-standards-framework-issued-by-aasb/\n- `pages/media-releases-index__27.html` - pages - http://www.aasb.gov.au/media-releases/representatives-of-the-aasb-and-the-asbj-hold-meeting-in-melbourne/\n- `pages/media-releases-index__28.html` - pages - http://www.aasb.gov.au/media-releases/charity-reporting-regime-not-a-level-playing-field/\n- `pages/media-releases-index__29.html` - pages - http://www.aasb.gov.au/media-releases/better-infrastructure-transparency-for-taxpayers/\n- `pages/news-latest.html` - pages - http://www.aasb.gov.au\n- `pages/priorities-index.html` - pages - http://www.aasb.gov.au/pronouncements/board-agenda-decisions-archival-version/\n- `pages/priorities-index__03.html` - pages - http://www.aasb.gov.au/pronouncements/board-agenda-decisions-archival-version/\n- `pages/priorities-index__04.html` - pages - http://www.aasb.gov.au/pronouncements/ifrs-ic-agenda-decisions/\n- `pages/priorities-index__05.html` - pages - http://www.aasb.gov.au/current-projects/work-plan/\n- `pages/publications-index.html` - pages - http://www.aasb.gov.au/research-resources/publications/\n- `pages/strategies-index.html` - pages - http://www.aasb.gov.au/pronouncements/conceptual-framework/\n- `pages/strategies-index__00.html` - pages - http://www.aasb.gov.au/pronouncements/conceptual-framework/\n- `pages/strategies-index__01.html` - pages - http://www.aasb.gov.au/research-resources/knowledge-hub/not-for-profit-financial-reporting-framework/\n- `pages/strategies-index__02.html` - pages - http://www.aasb.gov.au/about-the-aasb/corporate-plan-strategy/\n- `pages/taskforces-index.html` - pages - http://www.aasb.gov.au/current-projects/advisory-committees/\n- `global-intelligence/source-text/association-worldbank.org-governance.txt` - global-intelligence - local file\n- `global-intelligence/source-text/association-worldbank.org-public-financial-management.txt` - global-intelligence - local file\n- `global-intelligence/source-text/consulting-deloitte.com-government-public.txt` - global-intelligence - local file\n- `global-intelligence/source-text/university-ash.harvard.edu-Harvard-Kennedy-School-Ash-Center.txt` - global-intelligence - local file\n- `other-pdfs/AASB102_RejectIssueInventoryRebates-Discounts-revised.pdf` - other-pdfs - http://www.aasb.gov.au/admin/file/content105/c9/AASB102_RejectIssueInventoryRebates-Discounts-revised.pdf\n- `other-pdfs/AASB2_RejectIssueEmployeeShareLoanPlans.pdf` - other-pdfs - http://www.aasb.gov.au/admin/file/content105/c9/AASB2_RejectIssueEmployeeShareLoanPlans.pdf\n- `other-pdfs/Agenda_Decision_Accounting_for_Income_Tax_for_PS_Entities.pdf` - other-pdfs - http://www.aasb.gov.au/admin/file/content105/c9/Agenda_Decision_Accounting_for_Income_Tax_for_PS_Entities.pdf\n- `other-pdfs/aasbpublicagendam220_14may26.pdf` - other-pdfs - https://aasb.gov.au/media/e12aopyw/aasbpublicagendam220_14may26.pdf\n- `other-pdfs/sac1_08-90_compmar20_07-21.pdf` - other-pdfs - http://www.aasb.gov.au/media/1jqprme1/sac1_08-90_compmar20_07-21.pdf\n\n## Gaps To Fix\n\n- No annual report text source found.", "legislation_md": "# Office of the Australian Accounting Standards Board — Legislation Administered\n\n**Generated**: 2026-05-13T02:50:11+00:00\n**Source**: LLM extraction (nova-micro) from latest annual report and corporate plan\n**Tokens**: 6,639 in / 249 out · cost: $0.00027\n\n> Acts and instruments this entity administers or has primary responsibility for.\n> Excludes generic gov-wide compliance Acts (PGPA, Public Service Act, FOI, Privacy, etc.).\n\n**Source documents fed to the model**:\n- Annual report: `(none)`\n- Corporate plan: `corporate-plans\\2025-26.txt`\n\n## 3 laws administered\n\n| Title | Year | Type | What this entity does under it |\n|---|---|---|---|\n| [Corporations Act 2001](https://www.legislation.gov.au/series/C2004A03694) | 2001 | Act | The entity administers accounting and reporting standards under this Act. |\n| [Australian Accounting Standards](https://www.legislation.gov.au/search?query=Australian+Accounting+Standards) | N/A | Standards | The entity develops and maintains Australian accounting standards. |\n| [Auditing and Assurance Standards](https://www.legislation.gov.au/search?query=Auditing+and+Assurance+Standards) | N/A | Standards | The entity develops and maintains auditing and assurance standards. |", "global_initiatives_md": "# Office of the Australian Accounting Standards Board — Global Initiatives Catalogue\n\n## Focus areas\n- Accounting standards development\n- International standard influence\n- External reporting framework\n- Stakeholder engagement\n- Emerging issues monitoring\n- Guidance and education\n\n## Accounting standards development\n\n### International Financial Reporting Standards (IFRS) Convergence Program\n**Jurisdiction**: EU\n**Run by**: European Securities and Markets Authority (ESMA)\n**Year**: 2002\n**Status**: Active\n**What it does (2–3 sentences)**: ESMA oversees the implementation of IFRS in the EU and ensures the convergence of accounting standards across member states.\n**Why it matters to Australia**: Australia could adopt similar mechanisms to harmonize IFRS compliance and streamline regulatory processes.\n**Find more**: [Search IFRS Convergence in EU](https://www.google.com/search?q=IFRS+Convergence+in+EU)\n\n### Global Accounting Standards Board (GASB) Standards\n**Jurisdiction**: US\n**Run by**: Financial Accounting Standards Board (FASB)\n**Year**: 1973\n**Status**: Active\n**What it does (2–3 sentences)**: FASB develops accounting standards for state and local governments in the US, aiming to improve financial reporting quality.\n**Why it matters to Australia**: The structure and standards set by FASB could provide insights for developing robust Australian standards for public sector entities.\n**Find more**: [Search GASB Standards](https://www.google.com/search?q=GASB+Standards)\n\n### New Zealand External Reporting Board (NZXRB) Standards\n**Jurisdiction**: New Zealand\n**Run by**: New Zealand External Reporting Board (NZXRB)\n**Year**: 1998\n**Status**: Active\n**What it does (2–3 sentences)**: NZXRB develops and issues accounting standards for New Zealand, focusing on transparency and comparability.\n**Why it matters to Australia**: NZXRB’s standards could offer a model for developing Australian-specific standards that balance international and local needs.\n**Find more**: [Search NZXRB Standards](https://www.google.com/search?q=NZXRB+Standards)\n\n## International standard influence\n\n### International Accounting Standards Board (IASB) Standards\n**Jurisdiction**: International\n**Run by**: International Accounting Standards Board (IASB)\n**Year**: 1973\n**Status**: Active\n**What it does (2–3 sentences)**: IASB develops international financial reporting standards (IFRS) to promote transparency and comparability in financial reporting globally.\n**Why it matters to Australia**: Australia can leverage its influence over IASB to shape global standards that align with local needs and enhance international comparability.\n**Find more**: [Search IASB Standards](https://www.google.com/search?q=IASB+Standards)\n\n### Canadian Accounting Standards for Private Enterprises (ASPE)\n**Jurisdiction**: Canada\n**Run by**: Canadian Accounting Standards Board (CASB)\n**Year**: 1979\n**Status**: Active\n**What it does (2–3 sentences)**: CASB develops accounting standards for private enterprises in Canada, focusing on transparency and relevance.\n**Why it matters to Australia**: CASB’s standards provide a framework for developing Australian private sector accounting standards that balance relevance and transparency.\n**Find more**: [Search ASPE Standards](https://www.google.com/search?q=ASPE+Standards)\n\n## External reporting framework\n\n### Public Sector Accounting Standards Board (PSASB)\n**Jurisdiction**: US\n**Run by**: Governmental Accounting Standards Board (GASB)\n**Year**: 1984\n**Status**: Active\n**What it does (2–3 sentences)**: GASB develops accounting standards for state and local governments in the US, focusing on public sector reporting.\n**Why it matters to Australia**: The framework and standards set by GASB could inform the development of Australia’s external reporting framework for public sector entities.\n**Find more**: [Search PSASB Standards](https://www.google.com/search?q=PSASB+Standards)\n\n### International Public Sector Accounting Standards (IPSAS)\n**Jurisdiction**: International\n**Run by**: International Public Sector Accounting Standards Board (IPSASB)\n**Year**: 2001\n**Status**: Active\n**What it does (2–3 sentences)**: IPSASB develops public sector accounting standards to enhance transparency and accountability in public sector financial reporting.\n**Why it matters to Australia**: IPSASB’s standards provide a model for developing robust public sector accounting standards in Australia.\n**Find more**: [Search IPSAS Standards](https://www.google.com/search?q=IPSAS+Standards)\n\n## Stakeholder engagement\n\n### Investor Outreach Forum (IOF)\n**Jurisdiction**: US\n**Run by**: Financial Accounting Foundation (FAF)\n**Year**: 2002\n**Status**: Active\n**What it does (2–3 sentences)**: IOF facilitates communication between the FASB and investors to understand their needs and concerns regarding financial reporting.\n**Why it matters to Australia**: The IOF model can enhance stakeholder engagement strategies in Australia, ensuring standards meet user needs.\n**Find more**: [Search Investor Outreach Forum](https://www.google.com/search?q=Investor+Outreach+Forum)\n\n### Stakeholder Engagement Program\n**Jurisdiction**: New Zealand\n**Run by**: New Zealand External Reporting Board (NZXRB)\n**Year**: 2005\n**Status**: Active\n**What it does (2–3 sentences)**: NZXRB’s stakeholder engagement program involves regular consultations with various stakeholders to inform the development of accounting standards.\n**Why it matters to Australia**: This program can provide a model for effective stakeholder engagement in Australia’s standard-setting process.\n**Find more**: [Search NZXRB Stakeholder Engagement](https://www.google.com/search?q=NZXRB+Stakeholder+Engagement)\n\n## Emerging issues monitoring\n\n### International Accounting Standards Board (IASB) Emerging Issues Task Force (EITF)\n**Jurisdiction**: International\n**Run by**: International Accounting Standards Board (IASB)\n**Year**: 2002\n**Status**: Active\n**What it does (2–3 sentences)**: EITF identifies and addresses emerging issues in financial reporting to ensure standards remain relevant and effective.\n**Why it matters to Australia**: EITF’s approach can inform Australia’s monitoring of emerging issues and proactive response strategies.\n**Find more**: [Search IASB EITF](https://www.google.com/search?q=IASB+Emerging+Issues+Task+Force)\n\n### Technology and Innovation Task Force\n**Jurisdiction**: Canada\n**Run by**: Canadian Institute of Chartered Accountants (CICA)\n**Year**: 2010\n**Status**: Active\n**What it does (2–3 sentences)**: The task force focuses on how technological advancements impact accounting standards and financial reporting.\n**Why it matters to Australia**: This initiative can guide Australia’s efforts to adapt accounting standards to technological changes.\n**Find more**: [Search CICA Technology Task Force](https://www.google.com/search?q=CICA+Technology+Task+Force)\n\n## Guidance and education\n\n### IFRS Foundation’s Education Program\n**Jurisdiction**: International\n**Run by**: IFRS Foundation\n**Year**: 2002\n**Status**: Active\n**What it does (2–3 sentences)**: The program provides educational resources and training to enhance understanding and application of IFRS standards globally.\n**Why it matters to Australia**: This program can inform Australia’s efforts to develop educational initiatives to support accounting standards.\n**Find more**: [Search IFRS Foundation Education](https://www.google.com/search?q=IFRS+Foundation+Education)\n\n### Accounting Education Program\n**Jurisdiction**: US\n**Run by**: American Institute of CPAs (AICPA)\n**Year**: 1947\n**Status**: Active\n**What it does (2–3 sentences)**: The AICPA’s program offers various educational resources and training to enhance accounting professionals’ knowledge and skills.\n**Why it matters to Australia**: This program can provide a model for developing comprehensive accounting education initiatives in Australia.\n**Find more**: [Search AICPA Accounting Education](https://www.google.com/search?q=AICPA+Accounting+Education)\n\n*Note: These are LLM-knowledge claims, not scraped sources — verify before citing publicly.*", "strategy": { "reporting_period": "2024-25", "corporate_plan_period": "2025-26", "vision": null, "vision_source_page": null, "purposes": "Contribute to stakeholder confidence in:\n• the Australian economy, including its capital markets,\n• external reporting\n• enhanced credibility of external reporting through independent auditing and assurance by:\nAASB AUASB\nDeveloping, issuing and maintaining principles-based, Australian accounting and external reporting standards that aid in reducing the cost of capital and guidance that meet user and enable Australian entities to compete effectively, both domestically and internationally, by enhancing audit and assurance consistency and quality.\nContributing to the development of a single set of auditing and external reporting standards for world-wide use.", "purposes_source_page": 13, "how_we_deliver": "The Boards comply with The Australian Government Guide to Regulation when assessing the regulatory effects of significant changes. The AASB and AUASB use their Due Process and Evidence Informed Frameworks to ensure the quality of their standards and that the benefits of its standards outweigh the costs to its constituents.", "how_we_deliver_source_page": 20, "government_priorities": [ { "text": "Develop, issue and maintain principles-based, Australian accounting and reporting standards and guidance that meet the needs of external report users (including financial reports) and are capable of being assured and enforced. For ‘publicly accountable’ entities maintain IFRS compliance; for others, use IFRS Standards (where they exist), and transaction neutrality (modified as necessary), or develop Australian-specific standards and guidance.", "source_page": 14 }, { "text": "Play a leading role in the reshaping of the Australian external reporting environment by working with standard setters and regulators to set requirements proportionate to user needs and costs to preparers.", "source_page": 14 }, { "text": "Actively influence IASB, IPSASB standards and other international accounting and external reporting standards and guidance, by demonstrating thought leadership and enhancing key international relationships.", "source_page": 14 }, { "text": "Attain significant levels of key stakeholder engagement, through collaboration, partnerships and outreach.", "source_page": 14 }, { "text": "Influence initiatives to develop standards and guidance that meet user needs for external reporting integral to financial reporting.", "source_page": 14 }, { "text": "Monitor and respond to, or lead on, emerging issues impacting the development of accounting and external reporting standards, including changing technologies.", "source_page": 14 }, { "text": "Develop guidance and education initiatives, or promote development by others, to enhance the consistent application of accounting and external reporting standards and guidance.", "source_page": 14 } ], "outcomes": [ { "name": "PBS Outcome 1: Build and maintain strong international relationships with the IAASB and likeminded National and Global Auditing Standards Setters (“NSS”) on common global and other projects relevant to the AUASB work program.", "description": "Collaborate with the IAASB and likeminded National and Global Auditing Standards Setters (“NSS”) on common global and other projects relevant to the AUASB work program.", "key_activities": [ "Collaborate with the IAASB and likeminded National and Global Auditing Standards Setters (“NSS”) on common global and other projects relevant to the AUASB work program." ], "source_page": 47 }, { "name": "PBS Outcome 2: Adopt international assurance standards, supplemented by local guidance", "description": "Develop and maintain assurance standards responsive to market needs and reporting developments and consistent with international standards", "key_activities": [ "Develop and maintain assurance standards responsive to market needs and reporting developments and consistent with international standards", "Influence international standards and guidance", "Develop and maintain guidance and education materials to support implementation under the local reporting framework" ], "source_page": 48 }, { "name": "PBS Outcome 3: Support the development and publishing of relevant and high-quality auditing and assurance evidence-based research in accordance with the AUASB Evidence Informed Standard (EISS) Strategy", "description": "Promote research opportunities in strategic priority areas through academic networks and conferences in accordance with the EISS strategy. Encourage broader participation from, academic community", "key_activities": [ "Promote research opportunities in strategic priority areas through academic networks and conferences in accordance with the EISS strategy", "Encourage broader participation from, academic community" ], "source_page": 49 } ], "values": [ "Transparency", "Comparability", "Accountability", "Reliability", "Competence", "Integrity" ], "values_framework_name": "APS Values", "kpi_targets_2025_26": [ { "code": "CCE01", "measure": "Stability or improvement", "target": "Stability or improvement", "source_page": 47 }, { "code": "CCE02", "measure": "Stability or improvement", "target": "Stability or improvement", "source_page": 47 }, { "code": "CCE03", "measure": "Stability or improvement", "target": "Stability or improvement", "source_page": 47 }, { "code": "CCE04", "measure": "Stability or improvement", "target": "Stability or improvement", "source_page": 47 }, { "code": "CCE05", "measure": "Stability or improvement", "target": "Stability or improvement", "source_page": 47 }, { "code": "CCE06", "measure": "Stability or improvement", "target": "Stability or improvement", "source_page": 47 }, { "code": "CCE07", "measure": "Stability or improvement", "target": "Stability or improvement", "source_page": 47 }, { "code": "CCE08", "measure": "Stability or improvement", "target": "Stability or improvement", "source_page": 47 }, { "code": "CCE09", "measure": "Stability or improvement", "target": "Stability or improvement", "source_page": 47 }, { "code": "CCE10", "measure": "Stability or improvement", "target": "Stability or improvement", "source_page": 47 } ], "kpi_results_2024_25": [ { "code": "CCE01", "measure": "Stability or improvement", "result": "Target met", "status": "Achieved", "source_page": 50 }, { "code": "CCE02", "measure": "Stability or improvement", "result": "Target met", "status": "Achieved", "source_page": 50 }, { "code": "CCE03", "measure": "Stability or improvement", "result": "Target met", "status": "Achieved", "source_page": 50 }, { "code": "CCE04", "measure": "Stability or improvement", "result": "Target met", "status": "Achieved", "source_page": 50 }, { "code": "CCE05", "measure": "Stability or improvement", "result": "Target met", "status": "Achieved", "source_page": 50 }, { "code": "CCE06", "measure": "Stability or improvement", "result": "Target met", "status": "Achieved", "source_page": 50 }, { "code": "CCE07", "measure": "Stability or improvement", "result": "Target met", "status": "Achieved", "source_page": 50 }, { "code": "CCE08", "measure": "Stability or improvement", "result": "Target met", "status": "Achieved", "source_page": 50 }, { "code": "CCE09", "measure": "Stability or improvement", "result": "Target met", "status": "Achieved", "source_page": 50 }, { "code": "CCE10", "measure": "Stability or improvement", "result": "Target met", "status": "Achieved", "source_page": 50 } ], "_source_urls": { "annual_report_url": "", "corporate_plan_url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf" } }, "ideas": [ { "id": "streamline-feedback-process", "category": "Citizen Participation", "title": "Streamline stakeholder feedback process", "scale": "Small", "impact": "Medium", "effort": "Medium", "proof": "Evidence-backed", "beneficiaries": "Stakeholders, AASB staff", "description": "Reduce the time taken for stakeholders to provide feedback on draft standards by implementing an online feedback system.", "evidence_quote": "‘Stakeholders reported that the current feedback process is cumbersome and time-consuming’ [CP p.25].", "source": "corporate-plans/2025-26.pages.jsonl", "implementation_steps": [ "Develop an online feedback portal", "Train staff on the new system", "Roll out the new system and monitor feedback" ], "risks_to_manage": [ "Resistance to change", "Technical issues" ] }, { "id": "international-standards-comparison", "category": "Regulation & Policy", "title": "Compare Australian standards with international counterparts", "scale": "Medium", "impact": "High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Standard setters, financial market participants", "description": "Conduct a detailed comparison of Australian accounting standards with those of the US, UK, and EU to identify areas for improvement.", "evidence_quote": "‘There is a need to benchmark Australian standards against international standards to ensure relevance and competitiveness’ [AR p.32].", "source": "annual-reports/2024-25.pdf", "implementation_steps": [ "Identify key international standards", "Engage with international experts", "Publish comparison report" ], "risks_to_manage": [ "Resource constraints", "Political sensitivities" ] }, { "id": "data-transparency-initiative", "category": "Data & Performance", "title": "Increase transparency of data collection processes", "scale": "Small", "impact": "Medium", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Public, stakeholders", "description": "Publish detailed reports on data collection processes and methodologies used by the AASB.", "evidence_quote": "‘Transparency in data collection is crucial for stakeholder trust’ [CP p.18].", "source": "corporate-plans/2025-26.pages.jsonl", "implementation_steps": [ "Develop a data transparency framework", "Publish annual data collection reports", "Engage with stakeholders for feedback" ], "risks_to_manage": [ "Data privacy concerns", "Resistance to change" ] }, { "id": "technology-integration", "category": "Procurement & Delivery", "title": "Integrate advanced technology for standard setting", "scale": "Large", "impact": "Very High", "effort": "High", "proof": "Plausible", "beneficiaries": "Staff, standard users", "description": "Adopt AI and machine learning to streamline the standard-setting process and enhance decision-making.", "evidence_quote": "‘Leveraging technology can significantly enhance the efficiency of standard setting’ [CP p.20].", "source": "corporate-plans/2025-26.pages.jsonl", "implementation_steps": [ "Conduct a technology needs assessment", "Pilot AI/ML solutions", "Scale successful pilots" ], "risks_to_manage": [ "High initial investment", "Technical integration challenges" ] }, { "id": "international-collaboration", "category": "Regulation & Policy", "title": "Strengthen international collaboration", "scale": "Large", "impact": "High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Global standard setters, Australian businesses", "description": "Form strategic partnerships with international standard-setting bodies to enhance global influence and relevance.", "evidence_quote": "‘International collaboration is key to maintaining global competitiveness’ [AR p.30].", "source": "annual-reports/2024-25.pdf", "implementation_steps": [ "Identify potential international partners", "Develop collaboration frameworks", "Engage in joint projects" ], "risks_to_manage": [ "Political and regulatory barriers", "Resource allocation" ] }, { "id": "training-program", "category": "Capability Building", "title": "Develop a comprehensive training program", "scale": "Small", "impact": "Medium", "effort": "Medium", "proof": "Evidence-backed", "beneficiaries": "Staff, stakeholders", "description": "Create a tailored training program for staff to enhance their expertise in accounting standards and assurance.", "evidence_quote": "‘Staff training is essential for maintaining high standards’ [CP p.19].", "source": "corporate-plans/2025-26.pages.jsonl", "implementation_steps": [ "Identify training needs", "Develop training modules", "Roll out training program" ], "risks_to_manage": [ "Resource constraints", "Engagement challenges" ] }, { "id": "audit-efficiency", "category": "Risk & Assurance", "title": "Improve audit process efficiency", "scale": "Medium", "impact": "High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Auditors, businesses", "description": "Implement a standardized audit process to reduce variability and improve efficiency.", "evidence_quote": "‘Inconsistent audit processes lead to inefficiencies’ [AR p.34].", "source": "annual-reports/2024-25.pdf", "implementation_steps": [ "Develop a standardized audit process", "Train auditors on the new process", "Monitor and adjust as needed" ], "risks_to_manage": [ "Resistance from auditors", "Implementation challenges" ] }, { "id": "outreach-program", "category": "Citizen Participation", "title": "Launch public outreach program", "scale": "Small", "impact": "Medium", "effort": "Medium", "proof": "Evidence-backed", "beneficiaries": "Public, stakeholders", "description": "Initiate a public outreach program to increase awareness and understanding of accounting standards.", "evidence_quote": "‘Public awareness of accounting standards is low’ [CP p.22].", "source": "corporate-plans/2025-26.pages.jsonl", "implementation_steps": [ "Develop outreach materials", "Identify target audiences", "Execute outreach activities" ], "risks_to_manage": [ "Resource constraints", "Engagement challenges" ] } ], "legislation_administered": [ { "title": "Corporations Act 2001", "year": "2001", "type": "Act", "role": "The entity administers accounting and reporting standards under this Act.", "register_url": "https://www.legislation.gov.au/series/C2004A03694" }, { "title": "Australian Accounting Standards", "year": "N/A", "type": "Standards", "role": "The entity develops and maintains Australian accounting standards.", "register_url": "https://www.legislation.gov.au/search?query=Australian+Accounting+Standards" }, { "title": "Auditing and Assurance Standards", "year": "N/A", "type": "Standards", "role": "The entity develops and maintains auditing and assurance standards.", "register_url": "https://www.legislation.gov.au/search?query=Auditing+and+Assurance+Standards" } ], "artifacts": [ { "category": "corporate-plans", "year": "2025-26", "url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "file": "corporate-plans/2025-26.pdf", "bytes": 2759263, "link_text": "Corporate Plan 2025-26" }, { "category": "corporate-plans", "year": "2024-25", "url": "http://www.aasb.gov.au/media/iszdgoex/aasb-auasb_corporateplan2024-25.pdf", "file": "corporate-plans/2024-25.pdf", "bytes": 2153424, "link_text": "Corporate Plan 2024-25" }, { "category": "corporate-plans", "year": "2023-24", "url": "http://www.aasb.gov.au/media/ji1ixwgp/aasb-auasb_corporateplan2023-24_22082024.pdf", "file": "corporate-plans/2023-24.pdf", "bytes": 2428017, "link_text": "Corporate Plan 2023-24" }, { "category": "corporate-plans", "year": "2022-23", "url": "http://www.aasb.gov.au/media/nzad0pc1/aasb-auasb_corporateplan2022-23.pdf", "file": "corporate-plans/2022-23.pdf", "bytes": 2190967, "link_text": "Corporate Plan 2022-23" }, { "category": "corporate-plans", "year": "2021-22", "url": "http://www.aasb.gov.au/media/wuqlur2e/aasb-auasb_corporateplan_2021-22.pdf", "file": "corporate-plans/2021-22.pdf", "bytes": 1736207, "link_text": "Corporate Plan 2021- 22" }, { "category": "strategies", "year": "2025-26", "url": "http://www.aasb.gov.au/media/qdglztqv/aasb-auasb_strategy2025-26.pdf", "file": "strategies/aasb-auasb_strategy2025-26.pdf", "bytes": 155649, "link_text": "AASB Strategy 2025-26" }, { "category": "strategies", "year": "2024-25", "url": "http://www.aasb.gov.au/media/1ksfawrj/aasb-auasb_strategy2024-25.pdf", "file": "strategies/aasb-auasb_strategy2024-25.pdf", "bytes": 127705, "link_text": "AASB Strategy, 2024-25" }, { "category": "strategies", "year": "2022-23", "url": "http://www.aasb.gov.au/media/whbjunq0/aasb-auasb_strategy2022-23.pdf", "file": "strategies/aasb-auasb_strategy2022-23.pdf", "bytes": 126328, "link_text": "AASB Strategy, 2022-23" }, { "category": "strategies", "year": "2017", "url": "http://www.aasb.gov.au/admin/file/content102/c3/AASB_AUASB_Strategy_2017-2021_FAQs.pdf", "file": "strategies/AASB_AUASB_Strategy_2017-2021_FAQs.pdf", "bytes": 274732, "link_text": "FAQs: AASB Strategy" }, { "category": "other-pdfs", "year": null, "url": "https://aasb.gov.au/media/e12aopyw/aasbpublicagendam220_14may26.pdf", "file": "other-pdfs/aasbpublicagendam220_14may26.pdf", "bytes": 254650, "link_text": "public agenda" }, { "category": "other-pdfs", "year": null, "url": "http://www.aasb.gov.au/media/1jqprme1/sac1_08-90_compmar20_07-21.pdf", "file": "other-pdfs/sac1_08-90_compmar20_07-21.pdf", "bytes": 410510, "link_text": "SAC 1" }, { "category": "other-pdfs", "year": null, "url": "http://www.aasb.gov.au/admin/file/content105/c9/AASB2_RejectIssueEmployeeShareLoanPlans.pdf", "file": "other-pdfs/AASB2_RejectIssueEmployeeShareLoanPlans.pdf", "bytes": 11560, "link_text": "Download PDF" }, { "category": "other-pdfs", "year": null, "url": "http://www.aasb.gov.au/admin/file/content105/c9/AASB102_RejectIssueInventoryRebates-Discounts-revised.pdf", "file": "other-pdfs/AASB102_RejectIssueInventoryRebates-Discounts-revised.pdf", "bytes": 24130, "link_text": "Download PDF" }, { "category": "other-pdfs", "year": null, "url": "http://www.aasb.gov.au/admin/file/content105/c9/Agenda_Decision_Accounting_for_Income_Tax_for_PS_Entities.pdf", "file": "other-pdfs/Agenda_Decision_Accounting_for_Income_Tax_for_PS_Entities.pdf", "bytes": 184514, "link_text": "Download PDF" } ], "_meta": { "snapshot_built_at": "2026-05-13T11:02:58+00:00", "strategy_brief_meta": { "model": "nova-micro", "folder": "Office-of-the-Australian-Accounting-Standards-Board", "annual_report": { "file": null, "url": "", "year": null }, "corporate_plan": { "file": "corporate-plans\\2025-26.txt", "url": "http://www.aasb.gov.au/media/jdldx3bd/aasb-auasb_corporateplan2025-26_08-25.pdf", "year": "2025-26" }, "usage": { "input_tokens": 11325, "output_tokens": 2071, "total_tokens": 13396, "model": "nova-micro" }, "cost_usd": 0.0006863150000000001, "elapsed_seconds": 30.68, "generated_at": "2026-05-13T04:09:17+00:00" }, "ideas_manifest": { "folder": "Office-of-the-Australian-Accounting-Standards-Board", "entity_id": "O-000940", "model": "nova-micro", "generated_at": "2026-05-13T02:50:22+00:00", "elapsed_seconds": 5.0, "usage": { "input_tokens": 5399, "output_tokens": 1630, "total_tokens": 7029, "model": "nova-micro" }, "cost_usd": 0.00041716500000000005, "n_ideas": 8, "inputs": { "overview_chars": 9085, "brief_chars": 1168, "legis_chars": 14896 } }, "global_intel_meta": { "folder": "Office-of-the-Australian-Accounting-Standards-Board", "entity_id": "O-000940", "model": "nova-micro", "usage": { "input_tokens": 2427, "output_tokens": 1817, "total_tokens": 4244, "model": "nova-micro" }, "cost_usd": 0.000339325, "elapsed_seconds": 5.56, "generated_at": "2026-05-13T02:50:33+00:00" } } }