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Guidance and tools on GRAP
The Accounting Standards Board (ASB) publishes its Standards in a series of pronouncements called Standards of Generally Recognised Accounting Practice (GRAP). However, entities applying Standards of GRAP need to comply with the wider GRAP reporting framework as set out under Directive 5 as issued by the ASB. The reporting framework comprises the Standards of GRAP, guidelines and directives issued by the ASB and standards and pronouncements of other standard setters. We assist audit and non-audit clients with key accounting technical judgments and training. Please see our linked publications which will assist preparers to respond to the financial reporting needs within the public sector.
GRAP - What you need to know
We have developed this publication for preparers, auditors and users of financial statements prepared under Generally Recognised Accounting Practice (GRAP) in order to provide a summary of the Standards of GRAP and the iGRAP Interpretations which have been issued by the Accounting Standards Board (ASB)