Comparison with International Pronouncements

AASB 1048 and IASB Pronouncements

There is no IASB Standard equivalent to AASB 1048. However, Table 1 in AASB 1048 (see paragraph 10) contains a list of UIG Interpretations identifying the corresponding IASB Interpretations.

Compliance with IFRSs

Entities that apply the UIG Interpretations designated in this Standard as corresponding to the IASB Interpretations will simultaneously be in compliance with the Interpretations referred to by the IASB in its definition of IFRSs. Such compliance is one of the prerequisites that needs to be met before an entity can make an explicit and unreserved statement of compliance with IFRSs, as described in IFRS 1 (paragraph 3).

AASB 1048 and IPSASs

International Public Sector Accounting Standards (IPSASs) are issued by the International Public Sector Accounting Standards Board (IPSASB) of the International Federation of Accountants.

There is no IPSAS equivalent to AASB 1048. Further, there are no Interpretations issued or adopted by the IPSASB that are equivalent to the IASB Interpretations or the UIG Interpretations.