Preparers and auditors have been through the first reporting season for AASB 9 Financial Instruments and AASB 7 Financial Instruments: Disclosures. Some were unprepared for their complexities and poor practices resulted. Like other accounting standards, AASB 9 and AASB 7 must be reassessed at each reporting date. This session will focus on:
- Examples of how companies have implemented these standards
- The issues that have arisen on their first-time application, and
- Addressing the ongoing requirements of AASB 9 and AASB 7.