Corporate Reporting Insights - April 2024

Our April 2024 edition of Corporate Reporting Insights keeps you up to date with the latest Australian and global developments in corporate financial and sustainability reporting.

Sustainability

• Implementation of mandatory climate reporting in Australia faces delay
• No delay for climate reporting by Group 2 and Group 3 entities
• Are you an asset owner for Group 2 climate reporting?
• AUASB consults on proposed assurance over climate and other sustainability information
• European businesses to conduct due diligence on their human rights and environmental impacts
• USA climate disclosure rules on hold for now
• Developing a sustainability roadmap
• Seven steps to steer clear of greenwashing

Australian financial reporting developments

• Public companies must disclose more information about subsidiaries and their tax residency in 30 June 2024 financial reports
• Tier 2 disclosures for supplier finance arrangements

IFRS® Accounting Standards developments

• Revenue recognition by software resellers - Agent versus principal considerations
• Entities may have to reclassify their borrowings at 31 December 2024 – Part 2
• Meaning of ‘settlement’ when classifying liabilities as current or non-current
• IFRS 18 is here - Your primary financial statements will look different from 2027
• Changes in the pipeline for business combinations, goodwill and impairment
• BDO Illustrative interim financial statements (March 2024)

Useful resources

• Register now to attend our IFRS & Corporate Reporting webinar – Update on financial and sustainability reporting - Preparing for 30 June 2024 on 22 May
• Register now to attend our next sustainability webinar on 24 April or the rest of the series
• Watch our most recent IFRS & Corporate Reporting webinars – Continuing challenges in lease accounting
• Watch our most recent ESG webinar – Developing a sustainability roadmap
• New BDO IFRS and corporate reporting resources by topic
• Comments sought on exposure drafts