AASB 137 - Provisions, Contingent Liabilities and Contingent Assets - July 2004
Comparison with IAS 37Comparison with IAS 37
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Comparison with IAS 37
AASB 137 and IAS 37
AASB 137 Provisions, Contingent Liabilities and Contingent Assets as amended incorporates IAS 37 Provisions, Contingent Liabilities and Contingent Assets as issued and amended by the International Accounting Standards Board (IASB). Paragraphs that have been added to this Standard (and do not appear in the text of IAS 37) are identified with the prefix “Aus”, followed by the number of the relevant IASB paragraph and decimal numbering.
Compliance with IAS 37
Entities that comply with AASB 137 as amended will simultaneously be in compliance with IAS 37 as amended, with the exception of entities preparing general purpose financial statements under Australian Accounting Standards – Reduced Disclosure Requirements.