Corporate Reporting Insights – July 2024

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

Australian financial reporting developments

• New requirements for Australian Public Companies – consolidated entity disclosure statement
• Pillar Two disclosures in 30 June 2024 financial statements
• Income tax amendments relevant for general insurance contracts becomes law

IFRS® Accounting Standards developments

• Entities may have to reclassify their borrowings at 31 December 2024 – Part 5
• Accounting for voluntary purchases of carbon credits
• When is the appropriate time to derecognise trade receivables and payables settled via electronic bank transfers?
• Illustrative interim financial statements for the half-year ended 30 June 2024
• 30 June 2024 year-end IFRS Accounting Standards Update

Sustainability

• Understanding climate-related disclosures in Australia: A comprehensive guide for financial professionals
• More alignment between Australian and global climate disclosures
• The role of voluntary and mandatory sustainability reporting
• Memorandum of understanding between GHG Protocol and IFRS Foundation
• The Government’s Sustainable Finance Roadmap launches - BDO
• Guidance on disclosing comparatives for sustainability disclosures
• Interoperability guidance helps organisations report sustainability under both international and European standards
• Navigating the Taskforce on Nature-related Financial Disclosures (TNFD)
• Sustainability At A Glance - IFRS Sustainability Disclosure Standards (30 June 2024)
• Sustainability At A Glance - European Sustainability Reporting Standards (ESRS)
• A legal guide to the European CSDDD corporate due diligence duty on human rights and environmental impacts

Useful resources

• Register now to attend our next IFRS & Corporate Reporting webinar on 21 August or the rest of the series
• Register now to attend our next sustainability webinar on 31 July or the rest of the series
• Watch our most recent IFRS & Corporate Reporting webinars – Understanding the what, how and when of conducting impairment testing and Update on financial and sustainability reporting - Preparing for 30 June 2024
• Watch our most recent ESG webinar – The role of voluntary and mandatory sustainability reporting
• New BDO IFRS and corporate reporting resources by topic
• Comments sought on exposure drafts