Extent of IFRS application Status Additional Information
IFRS Standards are required for domestic public companies tick Australian equivalents to IFRS Standards are required for all reporting entities, including listed companies and financial institutions.
IFRS Standards are permitted but not required for domestic public companies
IFRS Standards are required or permitted for listings by foreign companies tick Permitted. Alternatively foreign companies may use their home standards if approved by the stock exchange.
The IFRS for SMEs Standard is required or permitted Not permitted if the SME meets the definition of a reporting entity. For other SMEs, no specific accounting framework is required.
The IFRS for SMEs Standard is under consideration No.
Last updated:
23 June 2017
Last updated:
08 June 2015
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