In this issue

Key developments

• Two minute update

Key dates

• Reporting deadlines reminder

Key developments

Two minute update

Why does it matter? Ensure you are aware of the latest developments.

A summary of recent developments:

ASX proposes Listing Rule changes to accommodate CCIVs, NZ funds and foreign passport funds entities

The ASX has issued a Consultation Paper which proposes to update the ASX Listing Rules and ASX Operating Rules to accommodate the listing on the ASX of various new types of entities, including 'sub-funds' under the proposed new Corporate Collective Investment Vehicle (CCIV) regime (currently subject of a Bill in parliament), notified foreign passport funds and certain NZ registered managed investment schemes.

The proposals also contain a number of amendments to various definitions and requirements, particularly where the rules refer to listed companies and listed trusts.

The proposals are open for comment until 18 March 2022.

AASB proposals on right-of-use assets and concessionary leases of not-for-profit entities

The AASB has issued ED 318 Illustrative Examples for Income of Not-for-Profit Entities and Right-of-Use Assets arising under Concessionary Leases to address several implementation issues raised by not-for-profit stakeholders in the short-term, narrow scope project on AASB 15 Revenue from Contracts with Customers and AASB 1058 Income of Not-for-Profit Entities

More information about ED 318 can be found in our February 2022 not-for-profit edition newsletter. The newsletter also provides a summary of various financial reporting considerations for not-for-profit entities, including accounting and regulatory developments, publications and tools.

International Sustainability Standards Board (ISSB) takes shape

The IFRS Foundation has announced the completion of the consolidation of the Climate Disclosure Standards Board (CDSB) into the Foundation. The staff, core intellectual property and technical assets of the CDSB are being transferred to the IFRS Foundation to support the work of the ISSB. This follows earlier announcements of the appointment of Emmanuel Faber as Chair of the ISSB in December 2021 and the appointment of Sue Lloyd as Vice-Chair and Janine Guillot as Special Advisor to the ISSB Chair in late January 2022.

Key dates

Reporting deadlines reminder

Why does it matter? Entities need to ensure they comply with reporting deadlines in the current reporting season.

Set out below is a high-level summary of reporting deadlines for most entities with a reporting period ending on 31 December 2021:

There are a number of deadlines applying in other situations, e.g. mining and oil and gas exploration entities, ASX AQUA market issuers and related deadlines under various ASIC Corporations Instruments.  The publications below provide more detailed and specific information.

More information:

• Clarity publication Revised deadlines for unlisted entities at December 2021
• December 2021 Tier 1 models and reporting considerations (Section B3)
• Model half-year report
• ASX reporting calendar 2022.

Published : February 2022