Comparison with

International Pronouncements

AASB 130 and IAS 30

AASB 130 as amended is equivalent to IAS 30 Disclosures in the Financial Statements of Banks and Similar Financial Institutions issued by the IASB. Paragraphs that have been added to this Standard (and do not appear in the text of the equivalent IASB standard) are identified with the prefix “Aus”, followed by the number of the relevant IASB paragraph and decimal numbering.

Compliance with IAS 30

Entities that comply with AASB 130 as amended will simultaneously be in compliance with IAS 30.

A parent that does not make use of the relief available to it in AASB 130 and complies with AASB 130 as amended will simultaneously be in compliance with IAS 30.

A parent that makes use of the relief available to it in AASB 130 and complies with the remaining requirements of AASB 130 will not simultaneously be in compliance with IAS 30.

AASB 130 and IPSASs

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

There is no specific IPSAS dealing with disclosures in the financial statements of banks and similar financial institutions at present.