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Office of the Australian Accounting Standards Board

(AASB)
Treasury
The AASB is an Australian Government agency under the Australian Securities and Investments Commission Act 2001. Under that Act, the statutory functions of the AASB are: - to develop a conceptual framework for the purpose of evaluating proposed standards; - to make accounting standards under section 334 of the Corporations Act 2001; - to formulate accounting standards for other purposes; - to participate in and contribute to the development of a single set of accounting standards for worldwide use; - and to advance and promote the main objects of Part 12 of the ASIC Act, which include reducing the cost of capital, enabling Australian entities to compete effectively overseas and maintaining investor confidence in the Australian economy.
Appropriations 3649000
Departmental expenses 4925000
Average staffing level 22

Further information

  • Type of Body

    A. Non Corporate Commonwealth Entity

  • GFS Sector Classification

    GGS

  • Established By / Under

    PGPA Rule (Schedule 1)

  • Annual Report Prepared and tabled?

    Yes

  • Classification

    A. Principal

  • GFS Function / Sector Reported

    GGS

  • Materiality

    Small

  • PS Act Body

    Yes - Statutory Agency with Dual Staffing Powers

  • Auditor

    ANAO

  • Creation Date

  • Postal Address

    PO Box 204, Collins Street West, VIC 8007

Last updated: