As the Australian Accounting Standards Board (AASB) considered the issuance of IFRS in Australia, several amendments were made to the finalised A-IFRS, including the removal of certain options permitted under IFRS, the inclusion of additional implementation guidance, and other minor wording changes.
As a result of these changes, the choices available and some of the implementation considerations encountered by Australian entities will differ somewhat compared to their international counterparts, despite the fact that Australian companies applying A-IFRS will generally be able to make an unreserved statement of compliance with IFRS.
The publication is available to download here.