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Australian Accounting Standards Board Paper - Country-by-country reporting

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Nov 25, 2016

In November 2016, the Australian Accounting Standards Board (AASB) published a paper on "Country-by-country reporting: Update on AASB approach" that will be discussed by members during the upcoming meeting of the Accounting Standards Advisory Forum (ASAF) on December 8 and 9, 2016.

This paper offers an update on the AASB approach to country-by-country reporting and argues that while much of the tax transparency initiative to date has been driven by the tax authorities, in order to remain relevant in an ever-changing regulatory environment, it is time for accounting standard-setters to take a leadership role in improving income tax disclosures for users of financial reports.

Review the paper on the AASB's website.

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