CTHRepealedLegislation
Accounting Standard AASB 2020-2 Amendments to Australian Accounting Standards – Removal of Special Purpose Financial Statements for Certain For-Profit Private Sector Entities
20AASB 1056 Superannuation Entities applies to:
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Turn the raw legal text into a practical explanation grounded in Accounting Standard AASB 2020-2 Amendments to Australian Accounting Standards – Removal of Special Purpose Financial Statements for Certain For-Profit Private Sector Entities.
20 AASB 1056 Superannuation Entities applies to:
(a) general purpose financial statements of each not-for-profit superannuation entity that is a reporting entity;
(b) each superannuation entity that elects to prepare financial statements of a superannuation entity that are held out to be general purpose financial statements; and
(c) for-profit private sector superannuation entities that have public accountability and are required by legislation to prepare financial statements that comply with either Australian Accounting Standards or accounting standards; and
(d) other for-profit private sector superannuation entities that are required only by their constituting document or another document to prepare financial statements that comply with Australian Accounting Standards, provided that the relevant document was created or amended on or after 1 July 2021.
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