Public Governance, Performance and Accountability (Financial Reporting) Rule 2015
32Administered investments
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32 Administered investments
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The purpose of this section is to set out the accounting requirements for administered investments held on behalf of the Commonwealth.
Administered investments are an interest by the Australian Government in a subsidiary, associate or joint arrangement that is reported in the financial statements of a reporting entity on behalf of the Australian Government.
(1) This section only applies to administered investments where the Government’s interest is in the nature of: (a) subsidiaries under AASB 10 Consolidated Financial Statements; (b) associates under AASB 128 Investments in Associates and Joint Ventures; or (c) joint operations or joint ventures under AASB 11 Joint Arrangements. (2) Other investments (e.g., a one per cent shareholding in a listed company) are accounted for under section 16 (financial instruments). (3) Administered investments: (a) are not considered controlled by the entities reporting them; (b) must be disclosed in the administered reports; (c) other than those held for sale in accordance with AASB 5 Non‑current Assets Held for Sale and Discontinued Operations, must be measured at fair value, with any changes in fair value being recognised in the statement of comprehensive income; and (d) must not be consolidated on a line‑by‑line basis into a reporting entity’s financial statements without approval from Finance.