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Australian international convergence update

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02 Mar 2004

We have posted a new Australian Accounting Alert: International Convergence Update.

Australia is in process of adopting national standards that are "largely consistent" with related IASs/IFRSs, though Australia has eliminated certain IFRS options, added some disclosures, and added some requirements for not-for-profit entities that are not consistent with IAS/IFRS. This Alert summarises 10 recent convergence standards.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.