Wednesday 15 May 2024


2:30 pm


1.5 CPD Hours

Session Topic

Fundamentals of AASB 112 Income Taxes and related Interpretations

Accounting for income tax is challenging and is often outsourced to other professionals. As accountants and auditors, our responsibilities in the area are not absolved.

Time to recap on the basic requirements of AASB 112 Income Taxes, interpretations (uncertain tax positions and tax consolidation) and ethical rules that apply when undertaking and auditing taxation calculations.

The session looks at:

  • Basic principles underpinning AASB 112 – tax base, temporary differences, measurement rules
  • Recognition of current/deferred tax assets and liabilities
  • Unused tax losses and unused tax credits
  • Relationship with business combinations and share-based payments standards
  • Presentation and disclosure
  • The many AASB interpretations of AASB 112, and
  • Ethical rules applying to auditors.
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This session is presented by:

Colin Parker

Principal | GAAP Consulting | Financial Reporting Expert

Colin, Principal of GAAP Consulting, is an expert in financial reporting, auditing and related governance issues, and was previously a member of the Australian Accounting Standards Board.

He has conducted many independent expert and consulting experts reports on professional negligence, and accounting and auditing standards. He is the team leader advisory and litigation services and adviser to GAAP Training and Reportfraud.