30Heritage and cultural assets

30 Heritage and cultural assets

Guide to this section

The purpose of this section is to set out the disclosure requirements for reporting entities that have control of heritage and cultural assets.

These assets by their very nature are of national significance and therefore require additional disclosure on how they are being managed and maintained by the Government for the national interest.

(1) When a reporting entity controls or administers heritage and cultural assets, the notes to the financial statements must disclose: (a) a description of those items; and (b) the curatorial and preservation policies for heritage and cultural assets. (2) Where this information is publicly available, reporting entities may instead provide a cross‑reference to this information. These policies must include details on acquisition, preservation, management and disposal of heritage and cultural assets.