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What’s new for December 2024
The purpose of this Alert is to draw attention to the Consultation Paper CP 380 Sustainability reporting (consultation paper) and accompanying draft regulatory guide RG 000 Sustainability reporting (draft regulatory guidance) published by the Australian Securities and Investment Commission (ASIC) on 7 November 2024.
Following recent decisions made at the Australian Accounting Standards Board (AASB) meetings, we now have a very clear sense of what the final Australian Sustainability Reporting Standards (ASRS) will look like.
The manufacturing sector has demonstrated remarkable resilience and adaptability, achieving steady growth through effective cost management and strategic investments despite economic challenges.
AASB 18 Presentation and Disclosure in Financial Statements
The new prudential standards for the private health insurance industry which commenced on 1 July 2023 have significantly changed how capital adequacy is determined for insurers and have been implemented to improve alignment with APRA’s insurance capital framework, consistent with international best practice.
The valuation of unlisted investments continues to garner significant attention in the media and by regulators given the high level of judgement involved and the often-perceived lack of transparency around the valuation process.
The Treasury Laws Amendment (Making Multinationals Pay Their Fair Share – Integrity and Transparency) Bill 2023 (‘the Amendment’) was passed on the 27 March 2024 by the Federal Government.
ASIC focus areas for 30 June 2024 financial reports
Accounting standards issued but not yet effective for 30 June 2024
While the retail industry has faced significant challenges due to COVID-19, it also showed significant resilience and adaptability throughout the pandemic. From changes in demand to major supply chain issues and labour market uncertainties, the last three years have tested the innovation and adaptability of businesses. Through a comprehensive retail benchmarking analysis of the past three years, we gained valuable insights into the industry's evolution from 2021 to 2023.
