CTHRepealedLegislation
AASB 1048 - Interpretation and Application of Standards - September 2008
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AASB 1048 - Interpretation and Application of Standards - September 2008
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Turn the raw legal text into a practical explanation grounded in AASB 1048 - Interpretation and Application of Standards - September 2008.
There is no IASB Standard equivalent to AASB 1048. However, Table 1 in AASB 1048 (see paragraph 9) contains a list of Australian Interpretations identifying the corresponding IASB Interpretations.
For-profit entities that comply with the Australian 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 paragraph 14 of AASB 101 Presentation of Financial Statements.