Technical submissions

Grant Thornton is a thought leader in the accounting industry and regularly makes public submission to various regulatory and standards setting bodies.

Below are the most recent submissions.

ASIC - Australian Securities & Investments Commission
30/11/2012 - Consultation paper 187: Effective disclosure in operating and financial review
07/06/2011 - Consultation paper 155:  Prospectuses disclosure:  Improving disclosure for retail investors

APESB - Accounting Professional & Ethical Standards Board
11/10/2012 - IESBA ED Proposed Changes to the Definition of Those Charged with Goverance
07/09/2012 - Exposure Draft ED 03/12 of Proposed Standard: APES 230 Financial Planning Services
08/05/2012 - IESBA ED Proposed changes to the definition of 'Engagement Team'
30/03/2012 - Proposed Guidance Note: APES GN 30 Outsourced Services
14/10/2011 - Exposure Draft ED 03/11 Proposed amendments to the definition of public interest entity in APES 110 Code of Ethics for Professional Accountants 
22/08/2011 - Proposed standard:  APES 325 Risk Management for Firms 
30/06/2011 - Proposed standard:  APES 330 Insolvency Services  
21/10/2010 - Proposed standard:  APES 230 Financial Advisory Services
15/10/2010 - Proposed standard:  APES 110 Code of Ethics for Professional Accountants
08/06/2010 - Proposed standard:  APES 310 Dealing with Client Monies (former) APS 10
23/12/2009 - Consultation paper: Proposed revision of APES 110 Code of Ethics for Professional Accountants

AASB - Australian Accounting Standards Board
26/06/2013 - Exposure Draft ED 238 Consolidated Financial Statements – Australian Implementation Guidance for Not-for-Profit Entities
28/03/2013 - Exposure Draft ED 233 – Australian Additional Disclosures – Investment Entities (proposed amendments to AASB 1054)
25/03/2013 - Exposure Draft ED 234 – ED/2012/7 Acquisition of an Interest in a Joint Operation (proposed amendment to AASB 11) - December 2012 - Open for Comment
25/03/2013 - Exposure Draft ED 232 – ED/2012/6 - Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (proposed amendments to AASB 10 and AASB 128)
01/03/2013 - Exposure Draft ED 231 – ED/2012/5 - Clarification of Acceptable Methods of Depreciation and Amortisation (Proposed amendments to IAS 16 and IAS 38)
13/02/2013 - Exposure Draft ED 230 – ED/2012/4 - Classification and Measurement: Limited Amendments to IFRS 9
07/02/2013 - Exposure Draft ED 235 – ED/2013/1 Recoverable Amount Disclosures for Non-Financial Assets - Proposed Amendments to IAS 36
04/02/2013 - Exposure Draft Annual Improvements to IFRSs 2011-2013 Cycle (ED 229 – IASB ED/2012/2)
19/112012 - ED 226 Withdrawal of Australian Interpretation 1039 substantive Enactment of Major Tax Bills in Australia
12/10/2012 - ITC 27 Request for Comment on IASB Request for Information on Post-implementation Review: IFRS 8 Operating Segments
06/09/2012 - Draft IFRIC IFRS Interpretations Committee's Draft Interpretation DI/2012/2: Put Options Written On Non-Controlling Interests
16/08/2012 - Exposure Draft Annual Improvements to IFRSs 2010-2012 Cycle (ED 225 –IASB ED/2012/1)
14/08/2012 -  Draft IFRIC Interpretation D1/2012/1 Levies Charged by Public Authorities on entities that operate in a specific market
08/05/2012 - ED 223 Superannuation Entities
10/02/2012 - Exposure draft revenue from contracts with customers ED 222 - IASB ED/2011/6
23/01/2012 - Exposure draft transition guidance:  Proposed amendments to AASB 10 
10/11/2011 - Request for views:  IASB agenda consultation 2011 
30/09/2011 - Exposure draft Tier 2 Supplement to ED 201 Insurance Contracts 
17/08/2011 - Consultation paper - Enhancing the value of auditor reporting:  Exploring options for change 
17/06/2011 - Exposure draft Tier 2 Supplement to ED 210 Financial Instruments:  Impairment
02/06/2011 - Exposure draft Tier 2 Supplement to ED 208 Hedge Accounting
09/05/2011 - Exposure draft Tier 2 supplement to ED 195 Defined benefit plans
11/04/2011 - Exposure draft ED 209 Offsetting financial assets and financial liabilities
28/02/2011 - Exposure draft ED 207 Amendments to AASB7 financial instruments - Disclosures tier 2
18/02/2011 - AASB ED 208 & IASB 2010/ Hedge Accounting
10/02/2011 - Implementation experience with GS 007 audit implications of the use of service organisations for investment management services
23/12/2010 - Extending relief from consolidation, the equity method and proportionate consolidation
23/12/2010 - Tier 2 supplement to AASB exposure draft ED 204 deferred Tax: Recovery of underlying assets
23/12/2010 - Tier 2 supplement to AASB exposure draft ED 202R leases
23/12/2010 - Tier 2 supplement to AASB exposure draft ED 198 revenue from contracts with customers
23/12/2010 - AASB ITC request for comment on IASB request for views on effective dates and transition methods
12/11/2010 - ED 202R & IASB ED 2010/9 Leases
08/11/2010 - ED 206 Severe hyperinflation
08/11/2010 - Draft Interpretation DI/2010/1 Stripping costs in the production phase of a surface mine
08/11/2010 - ED 201 Insurance contracts
26/10/2010 - ED 204 Deferred tax recovery of underlying assets
11/10/2010 - ED 200 A Proposals to harmonise Australian and New Zealand standards in relation to entities applying IFRSs as adopted in Australia and New Zealand
11/10/2010 - ED 200 B Proposed separate disclosure
04/10/2010 - ED 203 Removal of fixed dates for first-time adopters
24/09/2010 - ED 198 Revenue from Contracts with Customers
17/08/2010 - ED 199 Measurement Uncertainty
10/08/2010 - ED 195 Defined Benefit Plans
03/08/2010 - ED 197 Other Comprehensive Incomes
02/07/2010 - ITC 23 DP Extractive Industries
21/06/2010 - ED 193 Reporting Entity
02/07/2010 - Invitation to comment ITC 23 & Discussion Paper DP/2010/1 - extractive industries
05/07/2010 - Exposure draft ED196 & ED/2010/4 Fair Value Options for Financial Liabilities
25/06/2010 - ED 02/10 Proposed Auditing Standards on Review Engagements - ASRE 2415 Review of a Financial Report - Company Limited by Guarantee
20/05/2010 - ED 189 Financial Instruments - Amortised Cost and Impairment
23/04/2010 - Exposure Draft Revised Differential Reporting Framework (ED 192) and Consultation Paper: Differential Financial Reporting – Reducing Disclosure Requirements (CP)
17/03/2010 - ED 191 Measurement of Liabilities
23/12/2009 - Consultation Paper: Differential Financial Reporting – Reducing Disclosure Requirements
14/09/2009 - ED 187 Discount Rate for Employee Benefits

AUASB - Australian Auditing & Assurance Standards Board
18/07/2014 - ISA 720 Other Information - Comment letter
04/04/2014 - IAASB Strategy 2015 - 2019 - Comment letter
03/02/2014 - ASAE 3000 to AUASB
22/11/2013 - GTIL IAASB Comment Letter - Auditor's Report
11/02/2013 - International Standard on Auditing (ISA) 720 (Revised), The Auditor’s Responsibilities Relating to Other Information in Documents Containing or Accompanying Audited Financial Statements and the Auditor’s Report Thereon
08/02/2013 - ED 02/12 PROPOSED STANDARD ON REVIEW ENGAGEMENTS ASRE 2400 – Review of a Financial Report Performed by an Assurance Practitioner Who is Not the Auditor of the Entity
06/02/2013 - ED 03/12 PROPOSED STANDARD ON REVIEW ENGAGEMENTS ASRE 2415 – Review of a Financial Report – Company Limited by Guarantee
12/06/2012 - ED 01/12 Proposed Standard on Assurance Engagements ASAE 3410
25/11/2011 - ED 02/11 Proposed Standard on Assurance Engagements ASAE 3450 
18/11/2011 - ED 03/11 Proposed Standard on Related Services ARS 4450 Comfort Letter Engagements 
06/05/2011 - ISAE 3410 Assurance Engagements on Greenhouse Gas Statements
05/05/2011 - The Evolving Nature of Financial Reporting:  Disclosure and its Audit Implications
05/05/2011 - ISRE 2400 (Revised) Engagements to Review Historical Financial Statements
15/09/2010 - ISAE 3420 Assurance Reports on Compiled Pro-Formas for Prospectuses
24/06/2010 - ASAE 2415 Limited by Guarantee
20/05/2010 - ASAE 3402 Assurance Reports on Controls at a Service Organisation

The Treasury
15/03/2013 - Exposure draft – Corporations Legislation Amendment (Remuneration Disclosures and Other Measures) Bill 2012
15/03/2013 - Options Paper: Use of Standard Business Reporting (SBR) for Financial Reports
18/02/2013 - Council of Australian Governments (COAG) – Regulatory Impact Assessment of Potential Duplication of Governance and Reporting Standards for Charities
07/12/2012 - Taxing trust income:  Options for reform 
21/09/2012 - Business tax working group discussion paper
14/09/2012 - A more workable approach for fixed trusts 
03/08/2012 - Exposure Draft: SMSF Auditor Registration
16/02/2012 - Modernising the Taxation of Trust Income 
10/02/2012 - A  Modernisation and Harmonisation of the Regulatory Framework applying to Insolvency Practitioners in Australia
30/01/2012 - Proposed Amendments to the Corporations Act
25/01/2012 - Australian Charities Not-For-Profits Commission Bill
02/12/2011 - Future of the Financial Reporting Panel (FRP) 
28/10/2011 - Audit enhancement bill 
30/03/2011 - Clawback where financial statements are materially misstated
07/05/2010 - Audit Quality:  A Strategic Review
24/02/2010 - Proposal Paper:  Access to Company Registers and Related Issues
23/12/2009 - Corporations Amendment (Corporate Reporting Reform) Bill 2010

Not-for-profit
03/05/2013 - Submission - The Treasury – A Statutory Definition of Charity
26/04/2013 - Submission - Australian Charities and Not-for-profits Commission – 2014 Annual Information Statement (AIS)
15/02/2013 - Submission - Consultation Paper: Governance Standards for Charities registered with the Australian Charities and Not-for-profits Commission (ACNC)
15/02/2013 - Submission - Exposure Draft: Australian Charities and Not-for-profits Commission – Financial Reporting Requirements
20/07/2012 - Australian Charities and Not-For-Profits Commission Bill 2012
23/01/2012 - Australian Charities and Not-For-Profits Commission: Implementation Design
22/12/2011 - Review of not-for-profit governance arrangements 
09/12/2011 - A definition of charity 
25/02/2011 - Consultation Paper: Scoping study for a national NFP regulator
24/11/2009 - Productivity Commission:  Contribution of the not-for-profit sector
29/05/2009 - Productivity Commission:  Contribution of the not-for-profit sector  
29/08/2008 - Senate Economics Committee:  Disclosure regimes for charities and NFPs

ASX - Australian Stock Exchange
21/05/2010 - ASX Corporate Governance Principles and Recommendations

Financial Reporting Council
31/07/2012 - Managing Complexity in Financial Reporting
29/08/2011 - FRC Reducing Complexity in Financial Reporting Task Force

If you require any further information, please contact:

Andrew Archer
National Head of Audit and Assurance
T +61 2 8297 2400
E andrew.archer@au.gt.com