IASB improvements will be adopted in Australia

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29 Aug 2002

The Australian Accounting Standards Board has proposed to harmonise Australian accounting requirements with any revised International Financial Reporting Standards (IFRS) resulting from IASB's Improvements ED.

That could result in a diverse range of changes, including the disclosure of forward looking information and the measurement of transactions based on 'functional currencies'. The latest Australian Accounting Alert published by Deloitte Touche Tohmatsu Australia has details.

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