Footnotes

Chapter 2 - Background to the Proposed Standards

[1]        ASIC Act 2001, s.225(1)(a)

[2]        ASIC Act 2001, s.225(2)

[3]        ASIC Act 2001, s.225

[4]        www.iasb.org, accessed 7 December 2004.

[5]        Article 3.2.

[6]        Bulletin of the Financial Reporting Council, 2002/4, 3 July 2002.

[7]        Submission 3, AASB, p. 1.

[8]        Submission 3, AASB, p. 2.

[9]        Senate Economics Legislation Committee, transcript of evidence, 2 June 2004, p. E96.

[10]      It should be recalled that there is also an Australian member of the IASB itself.

[11]      Submission 3, AASB, p. 5.

Chapter 3 - Issues

[1]        Submission 14, Australian Institute of Company Directors, p. 3.

[2]        Submission 8, Institute of Chartered Accountants in Australia, p. 2.

[3]        Submission 19, National Institute of Accountants, p. 2.

[4]        Submission 11, CPA Australia, p. 1.

[5]        Submission 12, The Group of 100, p. 1.

[6]        Submission 4, Mr. Keith Alfredson, p. 2.

[7]        Transcript of Evidence, Ravlic, 7 February 2005, p. 18.

[8]        Transcript of Evidence, Boymal, 7 February 2005, p. 47.

[9]        Parliamentary Joint Statutory Committee on Corporations and Securities, Report on Aspects of the Regulation of Proprietary Companies, March 2001, p. 34.

[10]      Submission 14, Australian Institute of Company Directors, pp. 4-6.

[11]      Transcript of Evidence, Boymal, 7 February 2005, p. 47.

[12]      Transcript of Evidence, O'Grady, 7 February 2005, p. 11.

[13]      Submission 12, The Group of 100, p. 2.

[14]      Submission 19, National Institute of Accountants, p. 2.

[15]      Submission 17, KPMG, pp. 8-9.

[16]      Transcript of Evidence, Boymal, 7 February 2005, p. 41.

[17]      See the discussion of co-operatives and intangible assets, below.

[18]      Submission 11, CPA Australia, p. 2.

[19]      Submission 17, KPMG, p. 1.

[20]      Submission 21, BHP Billiton, p. 1.

[21]      Transcript of Evidence, Boymal, 7 February 2005, p. 39.

[22]      Submission 7, Professors Dean and Clarke, p. 4.

[23]      AASB Framework for the Preparation and Presentation of Financial Statements, para 46.

[24]      IASB IAS1: Presentation of Financial Statements, para IN7

[25]      Transcript of Evidence, Boymal, 7 February 2005, p. 43.

[26]      Transcript of Evidence, Boymal, 7 February 2005, pp. 44-45. See also Senate Economics Legislation Committee, Transcript of Evidence, Boymal, 2 June 2004, p. E104.

[27]      Submission 15, Langfield-Smith, p. 3.

[28]      Trasncript of Evidence, Boymal, 7 February 2005, p. 44.

[29]      AASB 132, Financial Instruments: Disclosure and Presentation, s. 11.

[30]      This point was made in identical terms by the Co-operative Federation of Western Australia (Submission 6), Norco Co-operative Limited (Submission 10), the Co-operative Federation of NSW (Submission 13),.

[31]      Trasncript of Evidence, Boymal, 7 February 2005, pp. 47-48.

[32]      Intangibles were dealt with by Mr Keith Alfredson (submission 4), the Financial Reporting Council (submission 18) and PricewaterhouseCoopers (submission 22).

[33]      Submission 18, Financial Reporting Council, p. 3.

Labor Member's Supplementary Report

[1] Submission 19, National Institute of Accountants, pp. 4 - 5

[2] Submission 21, BHP Billiton, p.1

[3] Submission 12, The Group of 100, p.1

[4] Submission, 17, KPMG, p.1

[5] Transcript of evidence, Boymal, 7 February 2005, p. 48

[6] Ibid

[7] Ibid

[8] Submission 6, The Co-operative Federation of WA Inc, p. 3

Submission 10, Norco Co-operative Limited, p. 3

Submission 13, Co-operative Federation of NSW, p. 4

[9] Transcript of evidence, Boymal, 7 February 2005, pp. 47 - 48

Clarification added [the impact on co-operatives]: Refer to p. 13 of Committee report for full quote

[10] Transcript of evidence, Boymal, 7 February 2005, pp. 48