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Public Governance, Performance and Accountability (Financial Reporting) Rule 2015
7Authoritative requirements and materiality
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7 Authoritative requirements and materiality
(1) As per subsection 42(2) of the PGPA Act, the financial statements of each reporting entity must comply with: (a) all applicable requirements of this rule, where the information resulting from applying this rule is considered material, or as specifically stated in this rule; and (b) applicable AAS and Interpretations issued by the AASB that apply for the reporting period. (2) For the purposes of paragraph (1)(a), materiality must be assessed in accord with the relevant AAS.