Workplace Relations Act 1996 - Determination of reporting guidelines for the purposes of section 253 of RAO Schedule (12/10/2004)
Purpose of Reporting GuidelinesPurpose of Reporting Guidelines
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Purpose of Reporting Guidelines
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These reporting guidelines apply for purposes of section 253 of the RAO Schedule.
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Under subsection 253(1) of the RAO Schedule a reporting unit is required to have a general purpose financial report (GPFR) prepared. The GPFR must be prepared in accordance with Australian Accounting Standards. These reporting guidelines prescribe certain disclosure requirements in addition to those prescribed by Australian Accounting Standards having in mind the nature of organisations registered under the RAO Schedule.
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The disclosure requirements prescribed by these reporting guidelines are directed towards providing members of a reporting unit with information to enable them to gauge the performance of the committee of management and other holders of office in relation to the financial management of the reporting unit. In addition, the reporting guidelines seek to improve the quality of information available to users of the GPFR about the reporting unit’s economic support of, or economic dependency on, other reporting units of the organisation.